Capitalism | Estateplanning | Vibepedia.Network

Capitalism is an economic system defined by private ownership of the means of production, where market forces dictate pricing, production, and distribution through competition and profit motives.[1][2] Emerging from historical mercantilism and industrial revolutions, it emphasizes innovation, capital accumulation, and voluntary exchange, often credited to thinkers like Adam Smith.[2][4] While fueling unprecedented global growth, it faces criticism for exacerbating wealth gaps and boom-bust cycles.[3][4]