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capitalism
(redirected from capitalist economy)

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capitalism

Economic 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.



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Written by Professor of Business Ethics (Haas School of Business) David Vogel, The Market for Virtue: The Potential and Limits of Corporate Social Responsibility is a scholarly examination of a politically charged and highly polarized debate concerning what corporate social responsibility can, cannot, and must accomplish in a modern capitalist economy.
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It is what our entire capitalist economy is based upon.
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As he points out, the new capitalist economy created social problems not previously faced in American society.
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