Capitalism  

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-'''Capitalism''' generally refers to an [[economic system]] in which the [[means of production]] are all or mostly privately.+'''Capitalism''' generally refers to an [[economic system]] in which the [[means of production]] are all or mostly privately [[own]]ed.
A famous passage from Voltaire's ''[[Letters on the English]]'' illustrates capitalism: A famous passage from Voltaire's ''[[Letters on the English]]'' illustrates capitalism:

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This page Capitalism is part of the politics series.Illustration:Liberty Leading the People (1831, detail) by Eugène Delacroix.
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This page Capitalism is part of the politics series.
Illustration:Liberty Leading the People (1831, detail) by Eugène Delacroix.

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Capitalism generally refers to an economic system in which the means of production are all or mostly privately owned.

A famous passage from Voltaire's Letters on the English illustrates capitalism:

"Enter the London Stock Exchange, that place more respectable than many a court. You will see the deputies of all nations gathered there for the service of mankind. There the Jew, the Mohammedan, and the Christian deal with each other as if they were of the same religion, and give the name of infidel only to those who go bankrupt; there, the Presbyterian trusts the Anabaptist, and the Anglican honors the Quaker's promise. On leaving these peaceful and free assemblies, some go to the synagogue, others to drink; this one goes to be baptized . . ; that one has his foreskin cut off and the Hebrew words mumbled over the child which he does not understand; others go to their church to await the inspiration of God, their hats on their heads, and all are content"

It was Marx who coined the term Capitalism, not Adam Smith in his 1776 book The Wealth of Nations.


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