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capitalism |
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capitalismEconomic system in which the principal means of production, distribution, and exchange are in private (individual or corporate) hands and competitively operated for profit. A mixed economy combines the private enterprise of capitalism and a degree of state monopoly, as in nationalized industries and welfare services. Most capitalist economies are actually mixed economies, but some (such as the US and Japanese) have a greater share of the economy devoted to free enterprise. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Since China is a burgeoning capitalist society, large global companies need to help build a way to train managers and owners so they have a greater sense of social responsibility in addition to just making profits. Schumpeter deepened our understanding of the entrepreneur in capitalist society and the nature of capitalism itself. What is specific to capitalist society is the role it plays by being determined as the substance of the most abstract form of reified social mediation in capitalist society: namely value. |
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