Modern Capitalism

Modern capitalism is an economic system where individuals and businesses own and control property and resources, rather than the government. It relies on free markets, competition, and profit incentives to produce goods and services. Prices are determined by supply and demand, encouraging innovation and efficiency. People earn income through work and investments, influencing economic growth. While promoting individual freedom and choice, it also requires regulation to address issues like inequality and prevent unfair practices. Overall, modern capitalism aims to balance private initiative with societal needs, fostering innovation and prosperity through voluntary exchange.