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|likes = Money <br> Tax breaks <br> Oil <br> Adam Smith |
|likes = Money <br> Tax breaks <br> Oil <br> Adam Smith |
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|dislikes = Unions <br> Worker co-ops <br> The Environment <br>}} |
|dislikes = Unions <br> Worker co-ops <br> The Environment <br>}} |
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'''Capitalism''' is an ideology representing a broad range of ideologies that fall under the umbrella of " |
'''Capitalism''' is an ideology and economic system representing a broad range of ideologies that fall under the umbrella of "capitalism". Capitalism is defined in many different ways, by [[File:Soc.png]] [[Socialism|Socialists]] it's usually defined as a system where the bourgeoisie exploit the proletariat, by [[File:Anmark2.png]] [[Market Anarchism|market anarchists]] it's usually defined as [[File:Corp.png]] [[Corporatocracy|corrupt market]]s and by [[File:Libertarian.png]] [[Libertarianism|Right-Libertarianism]] it's usually defined as a free enterprise system. |
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Capitalism, is defined in many different ways, by [[File:Soc.png]] [[Socialism|Socialists]] it's usually defined as a system where the bourgeoisie exploit the proletariat, by [[File:Anmark2.png]] [[Market Anarchism|market anarchists]] it's usually defined as [[File:Corp.png]] [[Corporatocracy|corrupt market]]s and by [[File:Libertarian.png]] [[Libertarianism|Right-Libertarianism]] it's usually defined as a free enterprise system. |
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Capitalism fundamentally needs 5 institutions to function: |
Capitalism fundamentally needs 5 institutions to function: |
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#Private Property |
#Private Property |
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#Free Exchange |
#Free Exchange |
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#A good and efficient law system |
#A good and efficient law system |
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The meaning of capital is also often misunderstood, since it's not only money but everything necessary for the production of consumer goods: Workers, capacitation of the workers, machines, materials, the factory itself, financial capital (The money that finances those necessary capital goods), etc... |
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Capitalism can fall under any cultural and statist position but |
Capitalism can fall under any cultural and statist position, but as an economic system, it's usually regarded as right-wing (although some ideologies that can arguably be considered capitalist can be considered economically centrist or center-left, such as [[File:Socdem.png]] [[Social Democracy]]) |
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== History == |
== History == |
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According to the ''Oxford English Dictionary'' (OED), the term "capitalism" first appeared in English in 1854 in the novel, "The Newcomes" by William Makepeace Thackeray, where he meant "having ownership of capital". Also according to the OED, Carl Adolph Douai, a German American socialist and abolitionist, used the phrase "private capitalism" in 1863. |
According to the ''Oxford English Dictionary'' (OED), the term "capitalism" first appeared in English in 1854 in the novel, "The Newcomes" by William Makepeace Thackeray, where he meant "having ownership of capital". Also according to the OED, Carl Adolph Douai, a German American socialist and abolitionist, used the phrase "private capitalism" in 1863. |
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== Variants == |
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=== Laissez-Faire Capitalism === |
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Laissez-faire capitalism is a form of capitalism in which the government rarely intervenes, or even doesn't intervene at all in the economy. A laissez-faire economy is one based on a free market, without any regulation on trade, business or working conditions. Laissez-faire capitalists also reject welfare, and believe in little (or even no) taxation. Laissez-faire capitalism can be justified either by arguing that such a system is the most efficient, or that such a system is based on freedom, and therefore is the only ethical system. Laissez-faire capitalism is usually associated with libertarian ideologies such as libertarianism, minarchism, austrolibertarianism and anarcho-capitalism, but it can also be supported by civically neutral, or even authoritarian ideologies, such as Pinochetism. |
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=== Regulated Capitalism === |
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Regulated capitalism is a system in which the government intervenes in the economy in order to maximize efficiency, and/or to protect workers and consumers. All existing capitalist societies follow this form of capitalism, even the ones with most economic freedom. Economic regulations can range from regulations to protect workers (such as workplace safety laws, minimum wage laws, laws that protect unions, etc.) to environmental regulations to penalize businesses that harm the environemtn, to government intervention to help the economy during times of crisis. Some ideologies support minimal regulation, such as Ordo-Liberalism, while some support quite a lot of regulation, such as Social Democracy. The Keynesian school of economics is a popular economic school that promotes regulated capitalism. |
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=== Welfare Capitalism === |
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TBA |
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=== State Capitalism === |
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TBA |
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== Personality and Behaviour == |
== Personality and Behaviour == |
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