Friday, March 2, 2012
Capitalism Actually
Capitalism is an economic system that uses independent, private parties to try and take over free markets with no interruption from the government or nobility class. This system creates the price of the good depending on the need and demand for the goods. In Europe this was highly encouraged by the government by protecting rights and upholding contracts.
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I'm not sure that you can say "take over" markets. Compete within markets to make a profit, would probably be better. But otherwise, you are in the ball park!
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