Capitalism is an economic system where private individuals and business firms carry on the production and exchange of goods and services through an intricate system of prices and markets. Capitalism shows that it is possible to pursue private gain in ways that would benefit not just the interests of the individual but also those of society as a whole. Society's interests are met by maximum production of the things that people want. The grouping of …
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showed last 75 words of 771 total
…abilities to do without an elite. Their general level of education and training has advanced significantly over the last couple of generations. The work they do, while still totally oppressive, has an increasingly mental and conceptual content. And they now have extensive access to cultural and intellectual resources and the diverse experiences of living in a modern society. So while socialism was impossible in the past, these emerging conditions make it inevitable in the future.