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What does capitalism mean?

Looking for the meaning or definition of the word capitalism? Here's what it means.

Noun
  1. (politics) a socio-economic system based on private ownership of resources or capital.
  2. (economics) an economic system based on private ownership of the means of production and their operation for profit.
  3. (politics) a socio-economic system based on private property rights, including the private ownership of resources or capital, with economic decisions made largely through the operation of a market unregulated by the state.
  4. (economics) an economic system based on the abstraction of resources into the form of privately owned capital, with economic decisions made largely through the operation of a market unregulated by the state.
  5. (countable) a specific variation or implementation of such a socio-economic system.
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But the truth is that there really is a class struggle and that capitalism and socialism are at odds with one another.
It is a symbolical play aimed at the vices of capitalism and totalitarianism and rekindling the personal spirit.
It tells us that capitalism will not allow enclaves of socialism to exist, be it a hippy commune or an island of socialism.
These are people who have made their peace with capitalism and have given up on the ideas of their youth.
Thus, by implication, it is possible for capitalism to exist independently of other economic logics in, for example, the Western world.
When I was growing up, I was taught that communism leads to dictatorship and capitalism leads inevitably to democracy.

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