CAPITALISM

August 2019

SSET 17 – CAPITALISM

Definition of capitalism 


Economic system governed by the natural laws of marginal utility: decreasing wealth and relative exchange.

Analysis of capitalism

The definition of capitalism implies that during its validity human beings generate means of production (capital factor) that allows them to enhance the wealth obtained with the labor factor. Using our closed-box graph,we analyze the “capitalism system”. With Wq,w we indicate the utility generated by the two factors and Ww with the work.

[The article continues in the downloadable document.]

To read the full article, please click on the PDF or Word icon: