Question

Based on Source 1, describe capitalism in your own word​

Answer 1

So Capitalism is an economic system where a country's trade, industry, and profits are not controlled by the government.

Each person using their own definition of capitalism make constructive discussion of it impossible. To discuss capitalism honestly, it requires a mutually agreed upon definition, which absent an explicit agreement to the contrary would normally be Webster’s. According to Webster’s, capitalism is “an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market.”

If your definition is different from the above, as in many of the answers here, then you are talking about something different than capitalism, by it’s normal definition. Very different, in the case of the left wing answers here. Which means you’re just talking past people instead of to them, arguing against something nobody is arguing for. That’s called a “strawman argument” and would never be considered a compelling argument to anyone with a functioning brain.

I got this statement from quora written by Al jones

:)