Let's Compare Capitalism and Mercantilism

Capitalism

Capitalism is an economic system that is based on private ownership of the means of production and the creation of goods or services for profit.

capitalism n : an economic system based on private ownership of capital [syn: {capitalist economy}] [ant: {socialism}]

24 Moby Thesaurus words for "capitalism": capitalistic system, finance capitalism, free competition, free economy, free enterprise, free trade, free-enterprise economy, free-enterprise system, individualism, isolationism, laissez-aller, laissez-faire, laissez-faireism, let-alone policy, let-alone principle, liberalism, noninterference, nonintervention, private enterprise, private ownership, private sector, rugged individualism, self-regulating market, state capitalism

capitalism \cap"i*tal*is`m\ (k[a^]p"[i^]*tal*[i^]z`m), n. An economic system based on predominantly private (individual or corporate) investment in and ownership of the means of production, distribution, and exchange of goods and wealth; contrasted with {socialism} or especially {communism}, in which the state has the predominant role in the economy. Syn: capitalist economy. [WordNet 1.5 +PJC]

Mercantilism

Mercantilism is the economic doctrine that government control of foreign trade is of paramount importance for ensuring the military security of the state.

mercantilism n 1: an economic system (Europe in 18th C) to increase a nation's wealth by government regulation of all of the nation's commercial interests [syn: {mercantile system}] 2: transactions (sales and purchases) having the objective of supplying commodities (goods and services) [syn: {commerce}, {commercialism}]

Data Sources:

  • capitalism: WordNet (r) 2.0
  • capitalism: Moby Thesaurus II by Grady Ward, 1.0
  • capitalism: The Collaborative International Dictionary of English v.0.44
  • mercantilism: WordNet (r) 2.0

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