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'''Capitalism''' is a way of organizing resources and people in order to produce a profit for those who control property. It has three major traits: | '''Capitalism''' is a way of organizing resources and people in order to produce a [[Surplus Value|profit]] for those who control property. It has three major traits: | ||
# [[Private Property|Private ]]ownership controls the production of commodities | # [[Private Property|Private ]]ownership controls the production of commodities | ||
# [[Markets|Commerce]] is used to [[trade]] resources | # [[Markets|Commerce]] is used to [[trade]] resources | ||
Revision as of 19:37, 10 March 2019
Capitalism is a way of organizing resources and people in order to produce a profit for those who control property. It has three major traits:
- Private ownership controls the production of commodities
- Commerce is used to trade resources
- Society is divided into classes, with most people working for others for wages
History
Capitalism evolved out of the early market economies which were common throughout the ancient world, as
Anti-Capitalism
Numerous criticisms of capitalism exist which argue capitalism is detrimental to human freedom, the environment, mental health and is unable to effectively use the resources it has to solve big issues like poverty or hunger. Others have pointed out a link between capitalism and authoritarianism, noting the methods to create capitalism involved stealing common land from indigenous groups via colonialism and from medieval peasants via enclosure. Additionally, capitalism has had a strong association with fascism and the destruction of social democracy in the third world. Anti-capitalism is a key part of libertarian socialism.