What Is Capitalism?
Capitalism is an economic system that does not permit for any government interference of regulation. The citizens or individuals that live in the country own the means of production such as: land, labor, and capital.
There are many benefits of a capitalist economy. It allows the citizens to engage in voluntary exchange ( people are allowed to buy any products they want). It also encourages people to work harder to get ahead. The main argument against capitalism is that it is unfair to the poor. However, in reality, capitalism gives the poor an ample chance to better themselves and earn money leading to a more satisfied life.
There are a few drawbacks to a capitalist economy. Since the government does not regulate anything, big businesses can take advantage of their workers. The government is also not able to regulate things like food production which could be harmful to the citizens of the nation.
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