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capitalism
noun
-
capitalism
an
economic
and
social
system
in
which
businesses
,
property
,
and
industry
are
owned
and
run
for
profit
by
private
individuals
rather
than
by
the
state
•
Many
people
believe
that
capitalism
encourages
innovation
by
rewarding
successful
ideas
.
Many
people
believe
that
capitalism
encourages
innovation
by
rewarding
successful
ideas
.
•
The
professor
explained
how
capitalism
and
democracy
can
sometimes
be
in
tension
.
The
professor
explained
how
capitalism
and
democracy
can
sometimes
be
in
tension
.
Coined
in
English
in
the
mid-19th
century
from
capital
+
‑ism
,
originally
referring
to
the
dominance
of
owners
of
capital
;
later
broadened
to
mean
the
entire
economic
system
based
on
private
ownership
for
profit
.
