capitalism

(noun) “[A]n economic system in which there is private ownership (as opposed to state ownership) and where there is an impetus to produce profit, and thereby wealth” (OpenStax College 2012).

Audio Pronunciation: (cap·i·tal·ism)

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Usage Notes:

  • A (noun) capitalist advocates for (adjective) capitalistic ideologies.
  • Also called capitalist economy.

Related Terms: 

 


References

OpenStax College. 2012. Economic Systems. Connexions, July 16, 2012. (http://cnx.org/content/m42922/1.4/).

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