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Which economist is often called the father of capitalism?

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capitalism

American  

[kap-i-tl-iz-uhm] / ˈkæp ɪ tlˌɪz əm /

noun

1. 

   an economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth.

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capitalism British  

/ ˈkæpɪtəˌlɪzəm /

noun

1. Also called: free enterprise, private enterprise. an economic system based on the private ownership of the means of production, distribution, and exchange, characterized by the freedom of capitalists to operate or manage their property for profit in competitive conditions Compare socialism

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capitalism Cultural  

1. An economic and political system characterized by a free market for goods and services and private control of production and consumption. (Compare socialism and communism.)

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Pop Culture

— The Intelligent Woman's Guide to Socialism and Capitalism: A treatise on economics and political science by Irish playwright George Bernard Shaw, first published in 1928. — The Intelligent Homosexual's Guide to Capitalism and Socialism with a Key to the Scriptures: 2009 play by Tony Kushner. The play's title was inspired by Shaw's book and Mary Baker Eddy's Science and Health with Key to the Scriptures. — Capitalism: A Love Story: 2009 documentary film written and directed by, and starring, Michael Moore. —Monopoly, the classic capitalism board game, from Hasbro. (“The success of Monopoly mirrors the success of capitalism,” noted Philip E. Orbanes, in his 2006 book, Monopoly: The World's Most Famous Game. )

Other Word Forms

• anticapitalism
  noun
• procapitalism
  noun

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Etymology

Origin of capitalism

First recorded in 1850–55; capital ¹ + -ism

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Compare meaning

How does capitalism compare to similar and commonly confused words? Explore the most common comparisons:

• mercantilism vs. capitalism
• market economy vs. capitalism
• fascism vs. capitalism
• free enterprise vs. capitalism

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Explanation

Capitalism is an economic system featuring the private ownership of business wealth and the free and unfettered operation of trade markets. Capital is usually understood to be money that is put into a business, accumulated by a business, or used in some way to produce more money. In a capitalist economy, the capital is owned by private individuals, as opposed to the government or state (as in socialism or communism). Another important aspect of capitalism is the "free market," where in theory natural competition always leads to innovation and price controls.

Example Sentences

See Examples For:

capitalism

The opportunity for private-equity funds to generate fantastic returns is, like most things in capitalism, also a product of competition.

From MarketWatch ● Oct. 30, 2026

Mr. Musk is leaning into capitalism by giving his recipients ownership, and choice.

From The Wall Street Journal ● Oct. 19, 2026

His critiques of both communism and unrestrained capitalism stemmed from his dismay that each of them undermined the dignity of human beings created in God’s image.

From The Wall Street Journal ● Sep. 24, 2026

Dürrenmatt penned “The Visit” as a critique of Switzerland’s neutrality after World War II, which he saw as an abandonment of ethics driven by capitalism.

From Los Angeles Times ● Sep. 11, 2026

The illicit payoffs were as yet unknown to the public, and as the barons moved toward the front of the Million Dollar Elm, they were treated as princes of capitalism, the crowd parting before them.

From "Killers of the Flower Moon" by David Grann

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