Capitalism: Difference between revisions
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Revision as of 21:27, 19 October 2022
In a restricted sense, the term capitalism describes an economic system based on private property and in which the means of production (land, raw materials, tools) do not belong to the owners or producers. [1]
Characteristics of capitalism from a sociological point of view include:
- Incessant search for profit through commercial exchange
- The separation of producers and the means of production
- The private (exclusive) and privative (depriving others) appropriation of wealth
Capitalism originated in northwestern Europe between the sixteenth and nineteenth century, and expanded from this region to the rest of the world through colonialism and imperialism. Capitalism's uncontrolled growth translates into an ever-increasing exploitation of people and nature. The many social and environmental consequences of capitalism are discussed on the page: anti-capitalist.
If you have any suggested revisions or additional resources to share related to the above content, please email them to kenzie@lehub.ca.
- ↑ Fortier, Jean-François and Pizarro-Noel, François. Sociology from A to Z , 2013, ERPI, Montreal, 175p.