My Study Stuff

03/11/2011

capitalism

Filed under: Extra — anlactunay @ 7:30 AM

capitalism
Capitalism is more than an economic system. It’s an entire ideology centered around the idea of the individual’s right to choose his work, his goals, and his life’s details. Capitalism is based on the relationships between the capitalists, the consumers, and the laborers. Capitalists essentially acquire or create goods for less than they sell them. Capitalism has dominated the Western Hemisphere since the Roman Empire began to tumble and, following that, the feudal system disintegrated.
Who controls government? Elected officials
How is government put into power? Elected by the masses
What roles do the people have? Sustain the free market
Who controls production of goods? Owners of capital
Who controls distribution of goods? Owners of capital
Major figures Adam Smith; John Locke
Historical example United States

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