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== History == | |||
Capitalism came into existence when people realized they could sell things instead of trading cows for beans. It really took off during the Industrial Revolution, and ever since, it's been trying to sell you things you don’t need but suddenly want. | |||
Still WIP because Capitalism is busy counting money. | |||
[[Category:Values]] | [[Category:Values]] | ||
Capitalism is an economic system based on the private ownership of the means of production and their use for the purpose of obtaining profit. This socioeconomic system has developed historically through several stages and is defined by a number of basic constituent elements: private property, profit motive, capital accumulation, competitive markets, commodification, wage labor, and an emphasis on innovation and economic growth. Capitalist economies tend to experience a business cycle of economic growth followed by recessions. | Capitalism is an economic system based on the private ownership of the means of production and their use for the purpose of obtaining profit. This socioeconomic system has developed historically through several stages and is defined by a number of basic constituent elements: private property, profit motive, capital accumulation, competitive markets, commodification, wage labor, and an emphasis on innovation and economic growth. Capitalist economies tend to experience a business cycle of economic growth followed by recessions. | ||
Revision as of 19:54, 4 August 2025
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History
Capitalism came into existence when people realized they could sell things instead of trading cows for beans. It really took off during the Industrial Revolution, and ever since, it's been trying to sell you things you don’t need but suddenly want. Still WIP because Capitalism is busy counting money. Capitalism is an economic system based on the private ownership of the means of production and their use for the purpose of obtaining profit. This socioeconomic system has developed historically through several stages and is defined by a number of basic constituent elements: private property, profit motive, capital accumulation, competitive markets, commodification, wage labor, and an emphasis on innovation and economic growth. Capitalist economies tend to experience a business cycle of economic growth followed by recessions.