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Capitalism
01
an economic and political system in which industry, businesses, and properties belong to the private sector rather than the government
Example
Capitalism encourages competition and innovation among businesses to meet consumer demand.
The collapse of the socialist regimes in Eastern Europe marked a shift towards capitalism in those countries.
Critics of capitalism argue that it leads to income inequality and exploitation of labor.
Capitalism is an economic system where private individuals and businesses own the means of production and operate for profit.
The Marxist critique of capitalism highlights the exploitation of labor by the bourgeoisie.
