All 3 Uses of
capitalism
in
The Princess Diaries
- What are the characteristics of capitalism?
Chpt 4capitalism = an economic system based on private ownership of property and businesses, and on voluntary exchange in a competitive environment
- What did Marx consider to be the contradiction in capitalism?
Chpt 4
- In denying workers the value of what they have produced, the capitalists are undermining their own economic system.
Chpt 4 *capitalists = people who believe in an economic system based on voluntary exchange in a competitive environment with private ownership of property and businesses
Definition:
-
(capitalism) an economic system based on voluntary exchange in a competitive environment with private ownership of property and businesses
(with the belief that voluntary exchanges harness inborn self-interest in millions of decisions that benefit society)editor's notes: Most proponents of capitalism advocate that government intervene to handle problems "pure" capitalism does not handle well such as monopoly, shared costs and benefits (such as pollution or national defense), provision of a safety-net for those who are unlucky, ...