Template:/box-header Capitalism is an economic system and a mode of production in which trade, industries, and the means of production are largely or entirely privately owned. Such private firms and proprietorships are usually operated for profit, but may be operated as private nonprofit organizations. Central characteristics of capitalism include private property, capital accumulation, wage labour and, in some situations, fully competitive markets. In a capitalist economy, the parties to a transaction typically determine the prices at which assets, goods, and services are exchanged.
The degree of competition, role of intervention and regulation, and scope of state ownership varies across different models of capitalism. Economists, political economists, and historians have taken different perspectives in their analysis of capitalism and recognized various forms of it in practice. These include laissez-faire or free market capitalism, welfare capitalism, crony capitalism, corporatism, "third way" social democracy and state capitalism. Each model has employed varying degrees of dependency on free markets, public ownership, obstacles to free competition, and inclusion of state-sanctioned social policies.
The extent to which different markets are free, as well as the rules defining private property, is a matter of politics and policy. Many states have a mixed economy, which combines elements of both capitalism and centrally planned economics. Capitalism has existed under many forms of government, in many different times, places, and cultures. Following the demise of feudalism, mixed capitalist systems became dominant in the Western world and continues to spread.
Template:/box-footer
Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found.
|
The slate industry in Wales began during the Roman period when slate was used to roof the fort at Segontium, modern Caernarfon. The slate industry grew slowly until the early 18th century, from when it expanded rapidly and reached its peak output in the late 19th century, at which time the most important slate producing areas were in north-west Wales. These included the Penrhyn Quarry near Bethesda, the Dinorwig Quarry near Llanberis, the Nantlle Valley quarries and Blaenau Ffestiniog, where the slate was mined rather than quarried. Penrhyn and Dinorwig were the two largest slate quarries in the world, and the Oakeley mine at Blaenau Ffestiniog was the largest slate mine in the world. The Great Depression and the Second World War led to the closure of many smaller quarries, and competition from other roofing materials, particularly tiles, resulted in the closure of most of the larger quarries in the 1960s and 1970s. Slate production continues on a much reduced scale. |
Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found.
|
Paul Anthony Samuelson (May 15, 1915 – December 13, 2009) was an American economist, and the first American to win the Nobel Memorial Prize in Economic Sciences. The Swedish Royal Academies stated, when awarding the prize, that he "has done more than any other contemporary economist to raise the level of scientific analysis in economic theory". Economic historian Randall E. Parker calls him the "Father of Modern Economics", and The New York Times considered him to be the "foremost academic economist of the 20th century".
Samuelson was likely the most influential economist of the later 20th century. In 1996, when he was awarded the National Medal of Science, considered America's top science honor, President Bill Clinton commended Samuelson for his "fundamental contributions to economic science" for over 60 years. Samuelson considered Mathematics to be the natural language for economists and contributed significantly to the mathematical foundations of economics with his book Foundations of Economic Analysis. He was author of the best-selling economics textbook of all time: Economics: An Introductory Analysis, first published in 1948.
He served as an advisor to Presidents John F. Kennedy and Lyndon B. Johnson, and was a consultant to the United States Treasury, the Bureau of the Budget and the President's Council of Economic Advisers. Samuelson wrote a weekly column for Newsweek magazine along with Chicago School economist Milton Friedman, where they represented opposing sides: Samuelson, as a self described "Cafeteria Keynesian", took the Keynesian perspective but adapted it accepting what he felt was good. By contrast Friedman represented the monetarist perspective.
|
Lua error in package.lua at line 80: module 'Module:Box-header/colours' not found.
| “ |
If competition is contrasted with energetic co-operation in unselfish work for the public good, then even the best forms of competition are relatively evil; while its harsher and meaner forms are hateful. And in a world in which all men were perfectly virtuous, competition would be out of place; but so also would be private property and every form of private right. Men would think only of their duties; and no one would desire to have a larger share of the comforts and luxuries of life than his neighbours. Strong producers could easily bear a touch of hardship ; so they would wish that their weaker neighbours, while producing less should consume more. Happy in this thought, they would work for the general good with all the energy, the inventiveness, and the eager initiative that belonged to them; and mankind would be victorious in contests with nature at every turn. Such is the Golden Age to which poets and dreamers may look forward. But in the responsible conduct of affairs, it is worse than folly to ignore the imperfections which still cling to human nature.
History in general, and especially the history of socialistic ventures, shows that ordinary men are seldom capable of pure ideal altruism for any considerable time together; and that the exceptions are to be found only when the masterful fervour of a small band of religious enthusiasts makes material concerns to count for nothing in comparison with the higher faith.
|
” |
|
— Alfred Marshall (1842 – 1924)
Principles of Economics , 1890
|
Template:/box-header
Template:/box-footer
Template:/box-header
Improve this portal!
Template:/box-footer
Template:/box-header
Template:/box-footer
Template:/box-header
Template:/box-footer
Template:/box-header Capitalism .. Private property .. Capitalist mode of production .. Laissez-faire .. Ludwig Von Mises .. Murray N. Rothbard .. Economic freedom .. Adam Smith .. Money .. Ronald Reagan .. American capitalism .. Criticisms of socialism .. Patent .. The Wealth of Nations .. Corporate capitalism .. Democratic capitalism .. Milton Friedman
|
|
| General |
|
| Ideology |
|
| Cultural aspects |
|
| Social aspects |
|
| Criticism |
|
| Antithesis |
|
Template:/box-footer
Template:/box-header
The following Wikimedia sister projects provide more on this subject: Template:/box-footer
Purge server cache
|
