What is capitalism? How to use in English

Discover the meaning of capitalism in English, its pronunciation, and how to use it correctly in real-life situations. See examples and easy memorization tips.

Definition & pronunciation of capitalism

capitalismnoun

chủ nghĩa tư bản

/ˈkæpɪtəlɪzəm//ˈkæpɪtəlɪzəm/

Where does the word capitalism come from?

The word "capitalism" was first coined by the French philosopher Louis Blanqui in 1839. Blanqui used the term "capitalisme" to describe the economic system where private individuals and companies own and control the means of production. However, it was the German philosopher Karl Marx who popularized the term "capitalism" in his 1867 book "Das Kapital". Marx used the term to describe the exploitation of workers by capitalists who own the means of production and reap the profits, while workers earn only a wage. Today, the term "capitalism" is widely used to refer to a system where private individuals and companies own and operate businesses to generate profits, often criticized for its perceived inequalities and injustices.

Vocabulary summary capitalism

typenoun

meaningcapitalism

Example of vocabulary capitalismnamespace

  • In a capitalist economy, the main goal of businesses is to maximize profits for their shareholders.
  • Capitalism rewards hard work and innovation, as these qualities lead to financial success.
  • Critics of capitalism argue that it perpetuates inequality, as the wealthiest individuals and corporations tend to accumulate even more resources.
  • Proponents of free-market capitalism argue that government intervention in the economy can lead to inefficiencies and stifle innovation.
  • The globalization of the economy has led to the spread of capitalism, as more and more nations adopt free-market ideals.

Synonyms and related words for capitalism

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