capitalism

  1. Noun.  (politics, uncountable) a socio-economic system based on private property rights, including the private ownership of resources or capital, with economic decisions made largely through the operation of an unregulated market.
  2. Noun.  (economics, uncountable) a socio-economic system based on the abstraction of resources into the form of privately-owned capital, with economic decisions made largely through the operation of an unregulated market.
  3. Noun.  (countable) a specific variation or implementation of either such socio-economic system.

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This entry was last updated on RefTopia from its source on 3/20/2012.