Capitalism :: essays research papers

Capitalism :: essays research papers

Capitalism A form of economic order characterized by private ownership of the means of production and the freedom of private owners to use, buy and sell their property or services on the market at voluntarily agreed prices and terms, with only minimal interference with such transactions by the state or other authoritative third parties. Communism 1.Any ideology based on the communal ownership of all property and a classless social structure, with economic production and distribution to be directed and regulated by means of an authoritative economic plan that supposedly embodies the interests of the community as a whole.