Though capitalism seems like just plain common-sense nowadays, it is a theory of human society with a distinctive history and set of assumptions.
It’s sometimes easy to think that we’ve run out of stuff to make and sell one another. Far from it: Capitalism is still very undeveloped. We’re only at its very dawn.
capitalism, also called free market economy, or free enterprise economy, economic system, dominant in the Western world since the breakup of feudalism, in which most of the means of production are privately owned and production is guided and income distributed largely through the operation of markets.