What is Capitalism? | History, Meaning, Pros and Cons of Capitalism

Functionally, capitalism is one system of economic production and resource distribution.
Instead of planning economic decisions through centralized political methods, as with socialism or feudalism, economic planning under capitalism occurs via decentralized, competitive, and voluntary decisions.
Capitalism is essentially an economic system whereby the means of production (i.e., factories, tools, machines, raw materials, etc.) are organized by one or more business owners (capitalists).
Capitalists then hire workers to operate the means of production in return for wages.
Workers, however, do not have any claim on the means of production nor on the profits generated from their labor - these belong to the capitalists.
#capitalism #capitalismmeaning #history #historyofCapitalism #upsc
#economics #economicpolicy #socialism #communism #adamsmith #worldhistory
Download the Success Plus Academy App :
clpamy.page.li...
Use the web Portal :
study.successp...
By connecting with app and web portal you can access free and premium content prepared by Success Plus Academy team.
Follow us on Telegram and ask your Queries :-
Telegram - t.me/successpl...
Connect with us on Instagram :
...
Follow us on Facebook :-
m.facebook.com...

[@azadar-e-kashmir8398]

In 1978, the 44th amendment to the Constitution removed the right to property from the list of Fundamental Rights and converted it into a simple legal right under article 300 A.

[@amanrawat597]

Pls provide pdf of this session sir it's helpful for us

[@anirudhprasad6890]

Correct and good explanation about capitalism model in the world thank you

[@utkarshasinghrathore5505]

Thankyou so much sir ❤it was really needed

[@iu-3809]

Sir notes ka pdf provide kra do plzz... ..

[@amanrawat597]

Sir pls make a video on modern history with depth information

[@birbaljadhav8074]

Thanks, Sir...G.

[@manjeetmahla9987]

Thanks sir

[@SanjaySingh-le4im]

Brilliant sir awesome

[@birbaljadhav8074]

Good evening, Sir..G Please make video on Portuguese did fight with Indian Navy and Egyptian Navy on Indian

[@piyushkumar-wg8ex]

❤❤❤❤

[@fazleghaffar813]

Hi good evening sir

[@terencecarpenter790]

'promo sm'

[@birbaljadhav8074]

Portuguese defeated this joined

[@practicesetsbykaushalsingh9915]

Why you can write this comment only in a war video . Why you write this comment on a economy video.