Capitalism

Capitalism A capitalist economy is a supply and demand side economy. Adam Smith was the founder of this idea in his book, “The Wealth of Nations,” written in 1776. Capitalism is an economic system based on the principal of no government interference or ownership of the means of production and property. The capitalist economy is the best known to date because it has a tendency for competition to keep the prices of products with in the lines of the needs of the consumers. The idea of capitalism changed the way of the government and gave birth to a new industrial error in the United States. Capitalism is an ideal way of running a society in that the government does not have a large role in the economy, people who act in self interest could bring greater good for the society and trade is based on supply and demand. http://www.hrusa.org/hrmaterials/sustecon/others/capitalist.htm Government in a social economy is limited. Industries are controlled by individual owners. It is a Lassie Faire or free enterprise system. Corporations are large companies that extend ownership out to the members of its community. In the elimination of the government intervention, competition economy, supply, government, demand, way, side, people, capitalist, system, society, products, idea, competition, capitalism, based, trade, running, large, interest, individual, high, consumers, united, things, self, role, resources, production, produced, places, ownership, new, needs, need, money