Capitalism

Generally speaking,capitalism is the system where capital(the companies, equipment and structures used for producing goods and service) is owned not by the state but by private indyviduals.But most of the books dont even bother to define it.Its a mulit-dimensional system unlike the communism.Capitalism as a MONGREL.
It has been criticized many times for exploiting the employees and is prone to the formation of monopolies.
The capitalism have never existed in its purest, fully free economy form-often called Laissez-Faire, from the french for ''let them do''.In fact ,most leading nations are actually slightly less free market than they were free centuries ago.In 1929 shortly before The Wall Street Crash , US goverment spending accounted for less than one-tenth of the country`s economic output. Forty years later it accounted for around one-third. Today, it accounts for around 36 per cent, with the proportion fast to rise.Although it is not the same system as at the beggining, Capitalism still is considered as one of the best economics idea.Or The least worst way to run an economy.
It is linked with democracy.In fact it is inherently democratic. There is no Capitalism without democracy and its belived that China`s adaptation of free market values will lead it toward Democracy.
After the collapse of Communism in Europe, new countries adopted Capitalism as its main economic idea. Even for its critics it should be obvious by looking at the countries which had been under Communist influence for the last 50 years, that Capitalism had left western economies in a far better shape than the previous members of the Eastern Block.Amen