Any idea about this please?
Answers (2)
"Capitalism
Capitalism is based on private ownership of the means of production and on individual economic freedom. Most of the means of production, such as factories and businesses, are owned by private individuals and not by the government. Private owners make decisions about what and when to produce and how much products should cost. Other characteristics of capitalism include the following:
Free competition. The basic rule of capitalism is that people should compete freely without interference from government or any other outside force. Capitalism assumes that the most deserving person will usually win. In theory, prices will be kept as low as possible because consumers will seek the best product for the least amount of money. Does capitalism allow for government interference?
The antitrust lawsuit against Microsoft is one way that the government has tried to promote competition. Supporters of Microsoft say that forcing Microsoft to allow companies to bundle arch-rival Netscape's web browser with Microsoft Windows is not unlike making Coca-Cola include a can of Pepsi in each six-pack it sells.
Supply and demand. In a capitalist system prices are determined by how many products there are and how many people want them. When supplies increase, prices tend to drop. If prices drop, demand usually increases until supplies run out. Then prices will rise once more, but only as long as demand is high. These laws of supply and demand work in a cycle to control prices and keep them from getting too high or too low.
First you need to learn what the words mean. The word "capitalist" was not invented by Karl Marx, but he is the one who brought it to the world's attention. He needed something to compare his theory of socialism to, something easily discredited, and he chose the meaningless term "capitalism".
An economic system requires capital, land and labor. A system might emphasize one or another, but all three are required. There is no "landism" or "laborism", although people have tried to implement those ideas. Feudalism tried to combine land and labor, the serfs being fastened to the land so the landlord was required to feed the serfs at the same time he used the land. Slavery tried to depend only on labor, ignoring land and capital. Capital is defined as tools of production. In modern society companies borrow to buy tools, so the loan is called a "capital" loan, and from that it is an easy step to use the word to describe any available funds. It is easy to pretend that "capitalism" is a viable concept because central banks have taken over the money creation process. That is another topic, even more confusing.
So what we call an economic system is in fact systematic oppression of one or another class of society. The core tenets of economics remain the same: land, capital and labor are necessary, sellers want to sell more when prices rise, and buyers want to buy less when prices rise. All of this is based on the right to own property, the right to enter into contracts, and the right to do business at mutually agreeable terms. All governmental controls are violations of one or more of those rights.
There are lots of websites devoted to trying to explain this topic. It is hard to get a full understanding because it involves everything everybody does. Every banker, every businessman, every worker, every home maker thinks his special interests are universal laws, and they are all correct, even though their special interests are contradictory.
More info:
mises.org
fee.org