Meaning of the word capitalism in English

What does capitalism mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

capitalism

US /ˈkæp.ə.t̬əl.ɪ.zəm/
UK /ˈkæp.ə.t̬əl.ɪ.zəm/
"capitalism" picture

Noun

1.

an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.

Example:
Many argue that capitalism promotes innovation and economic growth.
The fall of the Berlin Wall marked a shift towards capitalism in Eastern Europe.
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