Capitalism

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'''Capitalism''' refers to several schools of thought and models in regard to Economics. First emerging in the 18th century with roots stemming to John Lock and Adam Smith, capitalism is based around private ownership of industry, said privately owned industries are organized towards making as much [[Currency|money]] as possible, thus driving them to expand the scope of their operations and develop new methods to make themselves more efficient and productive as well as causing them to invest in new technologies. Economic development in a capitalist society is governed by market forces such as those of Supply and Demand.
 
'''Capitalism''' refers to several schools of thought and models in regard to Economics. First emerging in the 18th century with roots stemming to John Lock and Adam Smith, capitalism is based around private ownership of industry, said privately owned industries are organized towards making as much [[Currency|money]] as possible, thus driving them to expand the scope of their operations and develop new methods to make themselves more efficient and productive as well as causing them to invest in new technologies. Economic development in a capitalist society is governed by market forces such as those of Supply and Demand.
 
== Flaws of Capitalism ==
 
== Flaws of Capitalism ==
While capitalism was sucessful as a driving force behind the industrial revolution, their are numerous shortcommings of the system.
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While capitalism was sucessful as a driving force behind the [[industrial revolution]], their are numerous shortcommings of the system.
  
 
*Wealthy Corperations can become powerful forces in their own right due to the resources that they have at their command.
 
*Wealthy Corperations can become powerful forces in their own right due to the resources that they have at their command.

Revision as of 09:47, 19 January 2013

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