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Capitalism is an economic system in which the means of production are privatelyowned and operated for a private profit; decisions regarding supply, demand, price, distribution, and investments are made by private actors in the market rather than by central planning by the government; profit is distributed to owners who invest in businesses, and wages are paid to workers employed by businesses and companies.
No, the Irish came to America because they could not feed their kids due to Potato Famine, and then became liberal Democrats. At one point in US history, New York had more Irish-born citizens than Dublin
What if there would be no private insurance companies because people decided its not profitable?
Or what if the private insurance companies decided simply not to pay claims. (See: Health Insurance Companies). Who would enforce the rules? This whole no government hypothetical is too ridiculous for words.
Capitalism is an economic system in which the means of production are privatelyowned and operated for a private profit; decisions regarding supply, demand, price, distribution, and investments are made by private actors in the market rather than by central planning by the government; profit is distributed to owners who invest in businesses, and wages are paid to workers employed by businesses and companies.
it's a fun story but an over simplification. it could easily be turned around to show that a capitalist model only left a $1 or less return ( minus: profit margin for store that sold the lawn mower, distributor of lawn mower, manufacturer of lawn mower plus cost to transport lawnmower to the job site and the interest on a small business loan to purchase the lawnmower ).
i don't believe that absolute socialism or absolute capitalism could ever completely work.
Capitalism is where private enterprise decides what services to provide - what product to manufactuer - what price to charge - and how much to pay the workers.
As it is now, the Government is not allowing for freedom in these areas by dictating standards, dictating wages, dictating who a company has to hire and so on.
But, capitalism does NOT include issues such as providing national defense, interstate commerce, and the nations general welfare.
I would suggest that "Ohio" read and study the Constitution of the United States. To date he/she has not.
You criticize my definition. Then I ask for yours. You give me the same definition?
No - I was making / proving a point.
Read on Jack.
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