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capitalism |
Also found in: Dictionary/thesaurus, Financial, Encyclopedia, Wikipedia | 0.07 sec. |
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. |
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| The award recognizes "outstanding individuals who promote the American traditions of philanthropy, free-enterprise, and individual responsibility. The state-of-the-art plant, a joint venture between Davisco Foods and Land O'Lakes, is touted as the largest free-enterprise investment in the state's history. For example, the system is not in tune with the forces of the free-enterprise system. |
free-enterprise
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