Capitalism

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'''Capitalism''' refers to several schools of thought and models in regard to Economics. Although elements of it were in existence for thousands of years beforehand, capitalism as a formalized political ideology first emerged as a political 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. Important to capitalism is investment: people giving money to those engaging in production, trade, or other developments in exchange for a share of future profits. Economic development in a capitalist society is governed by market forces such as those of Supply and Demand.
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'''Capitalism''' refers to several schools of thought and models in regard to Economics. Although elements of it were in existence for thousands of years beforehand, capitalism as a formalized political ideology first emerged 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. Important to capitalism is investment: people giving money to those engaging in production, trade, or other developments in exchange for a share of future profits. Economic development in a capitalist society is governed by market forces such as those of Supply and Demand.
  
 
== Flaws of Capitalism ==
 
== Flaws of Capitalism ==

Revision as of 21:27, 16 April 2013

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