capitalism

/ˌkæpədlˈɪzəm/

/ˈkæpɪtəlɪzəm/

Capitalism is an economic system featuring the private ownership of business wealth and the free and unfettered operation of trade markets.

Capital is usually understood to be money that is put into a business, accumulated by a business, or used in some way to produce more money. In a capitalist economy, the capital is owned by private individuals, as opposed to the government or state (as in socialism or communism). Another important aspect of capitalism is the "free market," where in theory natural competition always leads to innovation and price controls.

Definitions of capitalism

1. noun

   an economic system based on private ownership of capital
   synonyms: capitalist economy

   antonyms:

   socialism

   an economic system based on state ownership of capital

   types:

   venture capitalism

   capitalism that invests in innovative enterprises (especially high technology) where the potential profits are large

   type of:

   free enterprise, free market, laissez-faire economy, market economy, private enterprise

   an economy that relies chiefly on market forces to allocate goods and resources and to determine prices