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Modern capitalist theory is traditionally traced to the 18th-century treatise An Inquiry into the Nature and Causes of the Wealth of Nations by Scottish political economist Adam Smith, and the origins of capitalism as an economic system can be placed in the 16th century.

Capitalism is often thought of as an economic system in which private actors own and control property in with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society. The essential feature of capitalism is the motive to make a profit.

Capitalism' is an ideal type system which Marx conceives as opposed to the latter and which is characterized by: the division of labour and the means of production; private property of the means of production; the legal freedom of the worker, which sells on the market its own working capacity; the generalization of ...

These include laissez-faire or free-market capitalism, anarcho-capitalism, state capitalism, and welfare capitalism. Different forms of capitalism feature varying degrees of free markets, public ownership, obstacles to free competition, and state-sanctioned social policies.

Capitalism affords economic freedom, consumer choice, and economic growth. This type of economy, however, may promote monopolies and inequality and lead to an economic recession.

Capitalism' is an ideal type system which Marx conceives as opposed to the latter and which is characterized by: the division of labour and the means of production; private property of the means of production; the legal freedom of the worker, which sells on the market its own working capacity; the generalization of ...

Capitalism is often thought of as an economic system in which private actors own and control property in with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society. The essential feature of capitalism is the motive to make a profit.