What Is Capitalism?


Capitalism as defined by Dictionary.com gives the impression that individuals and corporations run the economy by producing, distributing, and exchanging wealth. This is a partly true, partly untrue definition. Capitalism is an economic system, and it is maintained by private individuals as opposed to the government. As corporations are run by private individuals, and the definition still does not cover the full scope of capitalism objectively.

In Objectivism, capitalism is the only social system that is able to protect individual rights. Ayn Rand's article