Lines Economics 2 25 January 2013 Capitalism, Socialism, and Communism Capitalism is an economic system that allows private ownership of productions. All that capitalism actually entails is relatively low taxes, and private health care, and small government. Capitalism is simply a system that does not have government control of production (the government does not own the factories, the companies or the processes to produce products. Capitalism is a term of coined by socialists in the mid-nineteenth…
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