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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

Etymology

Origin of capitalism

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

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

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

“First Cow” is about the sweetness of friendship and French pastries in the wilds of Oregon during westward expansion; “The Weight” is about the corrupting forces of capitalism.

From Los Angeles Times ● Sep. 18, 2026

A leading figure of the new generation of Italian capitalism, he also chaired Ray-Ban, one of EssilorLuxottica's most iconic brands, which also include Oakley, Persol and Oliver Peoples.

From Barron's ● Aug. 25, 2026

Our critic noted that the show “posits that the Dutch brought with them the business-friendly entrepreneurial attitudes that helped make New York the center of commerce and capitalism it remains today.”

From The Wall Street Journal ● Aug. 23, 2026

Joseph Schumpeter later predicted that capitalism’s unprecedented success would finance an educated intellectual class increasingly hostile to capitalism itself.

From The Wall Street Journal ● Aug. 19, 2026

Insurgent capitalism frightened the government of North Korea, which fretted publicly about a slippery slope to regime change and catastrophe.

From "Escape from Camp 14: One Man's Remarkable Odyssey from North Korea to Freedom in the West" by Blaine Harden