Who controls the economy under capitalism
Hanisauland: Lexicon @todo: from Preprocess
Economic and social order
With "capitalism" one describes a certain economic and social order. Supply and demand determine the market and production. The capital is machines, plants, factory buildings, money, vehicles and so on. In capitalism, the chapter is owned by entrepreneurs. The state intervenes little or not at all in economic activity. The entrepreneurs can work and let work largely freely. The state protects private property and entrepreneurs.
Beginning of capitalism
At the beginning of the 20th century, the capitalist economic systems of the western industrialized countries were reformed. The state influenced economic activity through laws and political measures, and the stronger unions represented the interests of the workers.
Today: market economy
Even today, the economic systems in many industrialized countries function according to capitalist principles. But the state tries through laws to ensure that people are no longer exploited and that the market is fairer. Many factories are privately owned or owned by public companies and large corporations. The state protects private property. Most of the time, the term "market economy" is used instead of "capitalism". In Germany there is a social market economy.
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