Capitalism

Capitalism is an economic system in which production is controlled by private owners by means of making a profit. Trade and industry are also privately owned. The opposite of capitalism is communism; communism is a system of social organization in which all property is owned by the community. This system tries to eliminate the gap between rich and poor while capitalism encourages it.

Capitalist counties include the United Stated, the United Kingdom, Germany, and many others. As shown by history, capitalist and communists societies tend to annoy each other. The cold war between the USA and the USSR was a fight between communism and capitalism.

Capitalist economies are driven by supply and demand and freedom. Capitalist supporters will say it works because it offers an incentive to work (the more you can do / give the more money you make). However, more left wing supporters may say it is bad because it is unfair and leads to an increase in class gap.

Capitalism has always been around in parts but the first fully capitalist states came in around the 17th century in north-western Europe. Britain and the Netherlands were the first to adopt the culture and many began to follow. Now, most free counties have a capitalist regime.