Capitalism: What is its puropse and goal? Free Essay

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Capitalism: What is its puropse and goal?

Capitalism is actually a social (political) rather than economic system and the traditional definitions focus on private ownership. Capitalism is the system that recognizes and protects individual rights. It defines the only function of government as defending those rights through an objective system of justice. So capitalism is a difficult, problematic term and its particular context in which the term is being used has to be defined. Capitalism applies to a diversity of phenomenon spread across disparate historical cultures with substantially variable world-views. However, the term is an Enlightenment European term used to describe European practices; so the term "capitalism" means more than just a body of social practices easily applied a

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