The role of government in the capitalist enterprise
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... American Capitalism Capitalism is an economic system in which industry, trade and means of production are controlled by private owners with the aim of making profits in the market economy. Capitalism is characterized by wage labor, capital accumulation and competitive market. In the capitalist market, the parties to a transaction determine the cost at which goods, assets and services are exchanged. The extent of competition, the role of regulation and intervention, and the limit of public ownership vary depending on different models of capitalism. Historians, political economist and economist have analyzed capitalism and identified the different form of it in practice. These include welfare...