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an economic and political system in which industry, businesses, and properties belong to the private sector rather than the government
- Capitalism is an economic system where private individuals and businesses own the means of production and operate for profit.
- he United States is often cited as an example of a country with a predominantly capitalist economic system.
- Critics of capitalism argue that it leads to income inequality and exploitation of labor.
- Capitalism encourages competition and innovation among businesses to meet consumer demand.
- The collapse of the socialist regimes in Eastern Europe marked a shift towards capitalism in those countries.
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