Review:
Capitalism
overall review score: 3.5
⭐⭐⭐⭐
score is between 0 and 5
Capitalism is an economic system based on private ownership of the means of production and their operation for profit. It is characterized by free market competition and the pursuit of self-interest.
Key Features
- Private ownership of means of production
- Profit motive
- Free market competition
- Supply and demand
- Economic freedom
Pros
- Encourages innovation and entrepreneurship
- Can lead to economic growth and development
- Rewards hard work and success
Cons
- Increases income inequality
- Can lead to exploitation of labor
- Environmental degradation