Campbell Ewald

In: Other Topics

Submitted By ASMAkOMAL
Words 2595
Pages 11
Assignment On
Capitalism

Program:
M.com (2)years

Smester: 3rd (Evening)

TABLE OF CONTENTS
· Introduction Of Capitalism.
· Capitalism vs Socialism.
· Capitalism vs Communism.
· Types Of Capitalism.
· Advantages Of Capitalism.
· Disadvantages Of Capitalism.
· Criticism On Capitalism.

CAPITALISM
An economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth.
It is easy to forget that capitalism was coined not so long ago, in the mid-19th century, when the Industrial Revolution was in full swing, and individual entrepreneurs were creating new industries and amassing wealth.
Terms for the other two major competing economic systems of the past two centuries— socialism and communism—were also coined around the same time. Also, about the same time it became common to designate all such coinages as “isms”: terms formed by adding the suffix -ism to a root word in order to expand its meaning to encompass a related system, theory, or practice. Thus from a fairly old word, capital, the relatively newer word, capitalism, was formed to describe the then emerging economies of the West. On the surface, the meaning of capitalism seems straightforward, referring to an economic system in which private individuals, rather than governments, own property and businesses. But beneath the surface, strong currents of opinion and theory swirl about the term.

Capitalism vs Socialism
Capitalism
1) Equity
Capitalism is unconcerned about equity. It is argued that inequality is essential to encourage innovation and economic development

Socialism
1) Equity
Socialism is concerned with redistributing resources from the…...

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