Capitalism is the economic system that best describes what is currently happening in the world economy.

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Capitalism, defined as a system in which private individuals and businesses own and operate the means of production for profit, is the dominant economic system in the world today. Most countries operate on a market-based system that incorporates elements of capitalism, including the United States, China, and European nations. While there are alternative economic systems, such as socialism and communism, capitalism has been the most successful and widely adopted model of economic organization.

Capitalism Is the Economic System That Best Describes What Is