capitalism

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The idea of Capitalism has been talked about aplenty in media and politics, and critique of the economic system have grown increasingly prominent as of recent.
But what is Capitalism, exactly?

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what is capitalism?

Capitalism as an economic system based off of private ownership of resources, and private control of the trade and industry.

Capitalism is NOT:

— when people buy stuff
— consumption
— when the government gives rich people money
— when people are selfish
— when you don't like your government
— when you have an iPhone

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Many common misconception stems from ignorance concerning what capitalism actually is. Capitalism, contrary to how it is often portrayed, cannot be conflated with mere consumption. Private control is crucial.

private control

Your system is capitalist if:
— the industries are privately owned and controlled
— the resources and means of production are privately owned and controlled
— the economy is privately controlled

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But what does private control actually mean?

Something that is privately controlled is free from external interference by non-private actors who do not have a claim of ownership.