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capitalism.html
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<!DOCTYPE html>
<html>
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<meta charset="utf-8">
<title>cold war</title>
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<div class="com">
<h1>Capitalism</h1>
<h4><i><em>an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.</em></i></h4>
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<img src="https://encrypted-tbn0.gstatic.com/images?q=tbn%3AANd9GcToW9st7-p8ahp6ZWsyhagYeV6HwmtasD_lzecPx_ET-As1-2Tt" alt="capitalism">
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<p class="com3">Capitalism is an economic system where private entities own the factors of production. The four factors are entrepreneurship, capital goods, natural resources, and labor.
The owners of capital goods, natural resources, and entrepreneurship exercise control through companies. The individual owns their labor. The only exception is slavery, where someone else owns a person's labor. Although illegal throughout the entire world, slavery is still widely practiced.</p>
<h2>Characteristics </h2>
<p class="com3">Capitalistic ownership means two things. First, the owners control the factors of production. Second, they derive their income from their ownership. That gives them the ability to operate their companies efficiently. It also provides them with the incentive to maximize profit.This incentive could be why many capitalists say "greed is good."
In corporations, the shareholders are the owners. Their level of control depends on how many shares they own. The shareholders elect a board of directors. They hire chief executives to manage the company</p>
<h2>Advantages</h2>
<p class="com3">Capitalism results in the best products for the best prices. That's because consumers will pay more for what they want the most. Businesses provide what customers want at the highest prices they’ll pay. Prices are kept low by competition among businesses. They make their products as efficient as possible to maximize profit.
Most important for economic growth is capitalism's intrinsic reward for innovation. This includes innovation in more efficient production methods. It also means the innovation of new products. As Steve Jobs, co-founder of Apple Computer Inc., said in an interview with Inc. magazine, "You can't just ask customers what they want and then try to give that to them. By the time you get it built, they'll want something new."</p>
<h2>Disadvantages </h2>
<p class="com3">Capitalism doesn't provide for those who lack competitive skills. This includes the elderly, children, the developmentally disabled, and caretakers. To keep society functioning, capitalism requires government policies that value the family unit.
Despite the idea of a “level playing field,” capitalism does not promote equality of opportunity. Those without good nutrition, support, and education may never make it to the playing field. Society will never benefit from their valuable skills.</p>
<h2>Capitalism Versus Communism</h2>
<p class="com3">Communism evolves beyond both socialism and capitalism, according to theorists. The government provides everyone with a minimum standard of living. That's guaranteed, regardless of their economic contribution.12
Most societies in the modern world have elements of all three systems. This blend of systems is called a mixed economy. Elements of capitalism also occur in some traditional and command economies.</p>
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