From The Austrian Economics Wiki, the global repository of classical-liberal thought
|
|
| Line 1: |
Line 1: |
| '''Capitalism''' is an economic system characterized by private or corporate ownership of [[capital good]]s, by [[investment]]s that are determined by private decision, and by [[price]]s, [[production]], and the distribution of goods that are determined mainly by [[competition]] in a [[free market]].<ref>"Capitalism." Dictionary and Thesaurus - Merriam-Webster Online. http://www.merriam-webster.com/dictionary/capitalism (accessed April 25, 2011).</ref> Modern Capitalism is essentially mass production for the needs of the masses.<ref name="humanaction_ch21_sec2">[[Ludwig von Mises]]. [http://mises.org/humanaction/chap21sec2.asp XXI. Work and Wages], 2. Joy and Tedium of Labor, [[Human Action]], online version, referenced 2011-04-25.</ref> | | Doesn't work and neither do the capitalists. |
| | |
| ==References==
| |
| {{reflist}}
| |
| | |
| ==Also See==
| |
| * {{wplink}}
| |
| | |
| {{Stub}}
| |
| [[Category:Concepts]]
| |
Revision as of 01:46, 12 June 2013
Doesn't work and neither do the capitalists.
