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| '''Capitalism''' is a theory of economy in which private individuals may own property and make investments, and in which prices, production, and the distribution of goods |
'''Capitalism''' is a theory of economy in which private individuals may own property and make investments, and in which prices, production, and the distribution of goods are determined mainly by competition in a ] | ||
| ---- | ---- | ||
| ⚫ | The word ''Capitalism'' is used for many ], sometimes opposite ones. However, most of them are variants on the definition ''economic system where capital goods belong to private individuals''. | ||
| ⚫ | The word ''Capitalism'' is used for many ], sometimes opposite ones. However, most of them are variants on the definition ''economic system where capital goods belong to private individuals''. | ||
| An opposing term would thus be ] (and variants). | An opposing term would thus be ] (and variants). | ||
| ==== Capitalism and political ideologies ==== | ==== Capitalism and political ideologies ==== | ||
| There are many different and opposite ideologies that value capitalism: | There are many different and opposite ideologies that value capitalism: | ||
| * ] (sometimes also called ]) defends a "pure" form of capitalism with minimal State intervention. | * ] (sometimes also called ]) defends a "pure" form of capitalism with minimal State intervention. | ||
| * ] varies depending on countries in its specific stances, but in western countries, usually defends something not unlike the status quo of current capitalist practices (see ]). | * ] varies depending on countries in its specific stances, but in western countries, usually defends something not unlike the status quo of current capitalist practices (see ]). | ||
| * ] defend state intervention to protect domestic commerce and industries against foreign competition (see ]). | * ] defend state intervention to protect domestic commerce and industries against foreign competition (see ]). | ||
| * ] argues for extended state regulation and partial intervention in a capitalist background (see ], ], ], ]). | * ] argues for extended state regulation and partial intervention in a capitalist background (see ], ], ], ]). | ||
| Many different and opposite ideologies fight capitalism and argue for collectivism, which | Many different and opposite ideologies fight capitalism and argue for collectivism, which | ||
| * ] argues for extensive State control of economy, though with small tolerated areas of capitalism. | * ] argues for extensive State control of economy, though with small tolerated areas of capitalism. | ||
| * ] argues for extensive State control of economy, with delegation of its powers to complacent capitalists. | * ] argues for extensive State control of economy, with delegation of its powers to complacent capitalists. | ||
| * ] argues for collective ownnership of the means of production, and the overthrow of the state. | * ] argues for collective ownnership of the means of production, and the overthrow of the state. | ||
| * ] argues for collective control of economy without the need for a State. | * ] argues for collective control of economy without the need for a State. | ||
| === Arguments for and against capitalism === | === Arguments for and against capitalism === | ||
| Since there are so many divergent ideologies backing or fighting capitalism, there is no possible agreed upon argument list for or against it. See under each of the above ideologies what it has to say about capitalism. | Since there are so many divergent ideologies backing or fighting capitalism, there is no possible agreed upon argument list for or against it. See under each of the above ideologies what it has to say about capitalism. | ||
| === See also === | === See also === | ||
| * Related topics: ]. | * Related topics: ]. | ||
| * Related words: ]. | * Related words: ]. | ||
| * Related ideologies: ] (], ], ]), ] (]), ], ], ] (], ], ], ]), ], ], ], ], ]. | * Related ideologies: ] (], ], ]), ] (]), ], ], ] (], ], ], ]), ], ], ], ], ]. | ||
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Revision as of 08:27, 21 February 2002
Capitalism is a theory of economy in which private individuals may own property and make investments, and in which prices, production, and the distribution of goods are determined mainly by competition in a free market
The word Capitalism is used for many different meanings, sometimes opposite ones. However, most of them are variants on the definition economic system where capital goods belong to private individuals.
An opposing term would thus be collectivism (and variants).
Capitalism and political ideologies
There are many different and opposite ideologies that value capitalism:
- libertarianism (sometimes also called classical liberalism) defends a "pure" form of capitalism with minimal State intervention.
- conservatism varies depending on countries in its specific stances, but in western countries, usually defends something not unlike the status quo of current capitalist practices (see political conservatism).
- mercantilism defend state intervention to protect domestic commerce and industries against foreign competition (see protectionism).
- social democracy argues for extended state regulation and partial intervention in a capitalist background (see welfare state, political liberalism, liberal democracy, new liberalism).
Many different and opposite ideologies fight capitalism and argue for collectivism, which
- socialism argues for extensive State control of economy, though with small tolerated areas of capitalism.
- fascism argues for extensive State control of economy, with delegation of its powers to complacent capitalists.
- communism argues for collective ownnership of the means of production, and the overthrow of the state.
- libertarian socialism argues for collective control of economy without the need for a State.
Arguments for and against capitalism
Since there are so many divergent ideologies backing or fighting capitalism, there is no possible agreed upon argument list for or against it. See under each of the above ideologies what it has to say about capitalism.
See also
- Related topics: History of Economic Thought.
- Related words: capitalist.
- Related ideologies: classical liberalism (libertarianism, minarchism, anarcho-capitalism), conservatism (political conservatism), mercantilism, protectionism, social democracy (welfare state, liberalism, political liberalism, liberal democracy), state interventionism, socialism, fascism, communism, libertarian socialism.