What is capitalism?
To understand true capitalism you have to start with an understanding of capital. Capital is the secret sauce of capitalism. So, what is it?
The New Oxford American Dictionary defines capital as: wealth in the form of money or other assets owned by a person or organization or available or contributed for a particular purpose such as starting a company or investing.
- the excess of a company’s assets over its liabilities.
- people who possess wealth and use it to control a society’s economic activity, considered collectively…
- [with modifier] a valuable resource of a particular kind: there is insufficient investment in human capital.
In plain words, capital means tools and know-how. There’s nothing sinister about it.
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