capitalism
n. uncountablen. an economic system where businesses and property are owned by private people or companies, not by the government. The main goal is usually to make a profit.
n. an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. Frequently contrasted with socialism or communism.
Many countries around the world have economies based on capitalism.
Under capitalism, companies compete with each other to offer the best products and attract the most customers.
Critics of unregulated capitalism argue that it inevitably concentrates wealth, while proponents maintain it is the most efficient engine for innovation and global poverty reduction.
Borrowed from French capitalisme (“the condition of one who is rich”); equivalent to capital + -ism. Derived from Proto-Indo-European káput (“head”), ultimately from Proto-Indo-European kap-. First used in English by novelist William Thackeray in The Newcomes [1854-1855].
Uncountable in general use; occasionally pluralised in academic contexts to compare different national models.