Spread of Capitalism
Definition
The spread of capitalism refers to the global expansion and adoption of a free-market economic system, where private individuals or businesses own capital goods. In this system, production is guided and income distributed largely through the operation of markets.
Analogy
Think about playing a game of Monopoly. Each player starts with some money and can buy properties (capital). The goal is to accumulate as much wealth as possible by buying, renting, or selling properties. This is similar to how capitalism works - individuals or businesses invest in capital goods (like properties in Monopoly) to generate profit.
Related terms
Free Market Economy: An economic system where prices for goods and services are determined by the open market and consumers.
Private Property Rights: Legal designation for the ownership of property by non-governmental legal entities.
Supply and Demand: Economic model that determines price in a free market.
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