Question

What are the fundamental beliefa of capitalism？

Answer 1

An economy that is primarilary dependent on the private sector, meaning privately owned business rather than government owned 

Answer 2

Capitalism is the economic and social system and also the mode of production. In capitalism, means of production are predominantly privately owned and operated for profit and distribution, and exchange is in a mainly market economy. The rise of capitalism was supported by the ideas and theories of the many philosophers. One of the first was Adam Smith whose theory of "invisible hand" of market claimed that pursuing individual interests unintentionally produces good for society. David Ricardo developed the law of comparative advantages, which explain how trade can benefit all parties involved. John Lock argued that the right to have private property is the natural law.