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POLS 1090 (12)

What is Capital and Capitalism?

by Anu J
1 Page
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Department
Political Science
Course Code
POLS 1090
Professor
Marc Weinstein

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Notes by: ANU J What is Capital and Capitalism? Capitalism, with its roots originating from colonialism (to an extent) is known most commonly as the primary economic system in a few of the first world countries of today, including Canada, the US, and the UK. As Michael Moore, filmmaker says in his documentary, Capitalism: A Love Story, capitalism is known as “a system of giving and taking, [but] mostly taking.” The typical economy of a capitalist nation consists of a few key components: capital, capitalists, the profit motive and the free market system. To get an understanding of any topic, its individual components and key ideas must first be defined. Capitalists are business men and women that have money to invest in a profitable endeavour, driven by the profit motive, which is the hunger/greed/motivation to make as much profit as they can using the funds and resources they have available to them. Capital is primarily defined as the money or resources that capitalists utilize to make a profit; a secondary reference to capital is by defining capital as the business enterprise itself. One other key component of capitalism is that it operates in a free market system,
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