POLS 1090 Study Guide - Profit Motive
1 Apr 2013
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Document Summary
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, To get an understanding of any topic, its individual components and key ideas must first be defined. 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. Furthermore, capitalism incorporates the existence of personal property (whether they are tangible goods such as clothes or books, or intangible things such as ideas, innovations and other intellectual property). The concept of personal property indicates that everyone in a capitalist system is, indeed, a commodity owner. And in the system of market that exists in a capitalist economy, all are free to trade (or not) as they wish.
