Capitalism
Capitalism is defined as an economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market. There are five basic characteristics of capitalism: commodities, money, labor power, means of production and production. The first characteristic is commodities. Capitalism has two types of commodities, which are capital and consumer goods. Capital goods are land; raw materials, tools, machines, and these capital goods were used to produce consumer goods. The second aspect of capitalism is money. Money is a standardized means of exchange. Another characteristic is labor power. Labor power is the work that is needed to transform one type of commodity into another. The next aspect of capitalism is means of production. Means of production is another term for capital goods. The last and final characteristic of capitalism is production. Production is the combination of labor power and means of production to produce commodities. The slave system in America has influenced human history of today. Slaves were more often used as a sign of affluence, a way of displaying one's wealth and of enjoying luxury, r
Some topics in this essay:
Slavery America, , means production, labor power, white labor, culture capitalism, power means production, labor power means, free white labor, piece property, characteristics capitalism, aspect capitalism, production production, slavery america, free white,
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Approximate Word count = 864
Approximate Pages = 3 (250 words per page double spaced)
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