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Capitalism is an economic system in which private individuals or businesses own and operate the means of production, distribution, and exchange of goods and services. It is characterized by a free market system where prices and production are determined by supply and demand, rather than by government intervention or control.
In capitalism, individuals are motivated by the pursuit of profit and are free to buy, sell, and trade goods and services with little government regulation or interference. Competition between businesses is seen as a driving force for innovation, efficiency, and growth.
Capitalism has been the dominant economic system in many countries around the world since the Industrial Revolution in the 18th and 19th centuries. However, it has also been subject to criticism and debate about its impacts on inequality, social justice, and environmental sustainability.
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