A capitalist economic system is commonly associated with liberal democratic ideology. The capitalist system involves the exchange of capital, products, and labour in markets between producers, manufacturers and firms with consumers and households. Minimal state-intervention guarantees property rights and provides an impartial and effective legal system to create incentives for economic development.
The main feature that does not allow capitalist economic system to be associated with totalitarianism is lassiez-faire or the 'free market' principle advocated by Adam Smith. Totalitarian states often have large bureaucracies that usually control supply to meet demand and more generally plan and heavily regulate the economy - features that are inconsistent with capitalism.
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capitalist
capitalist
A monopoly is considered a capitalist's dream.
a. competition
Entrepreneur's.
capitalist
capitalist
A monopoly is considered a capitalist's dream.
Capitalist
free market
Romania is a capitalist country.
New economic policy.
a. competition
Entrepreneur's.
Greece is a capitalist economy
It is the price mechanism
Free-market