Capitalist economic system

Capitalist Economic System
A Capitalist economic system is one characterised by free markets and the absence of government intervention in the economy.

One of the most fundamental requirements of a capitalist economic system-and one of the most misunderstood concepts-is a strong system of property rights.

For this reason Marxists typically emphasise the capitalist economic system of western countries rather than the democratic political system.

Progressive taxation has offered a way of reconciling the republican or democratic ideals with the high concentrations of wealth characteristic of capitalist economic systems.

Thus, libertarians endorse stricter respect for private property rights, the establishment of a more laissez-faire laissez-faire capitalist economic system, rigorous separation of church and state, ...

teaching has been reflected in governmental attempts to control the business cycle by putting money directly into the economy; the "pump-priming" technique, often accompanied by an unbalanced budget, is now a part of most capitalist economic systems.

See also: Capitalist, Capitalism, Welfare, Socialism, Values