> Capitalism is about trade and industry being done by private owners, instead of by the state. It's a decentralized economic system that acknowledges a state's

> Capitalism is about trade and industry being done by private owners, instead of by the state. It's a decentralized economic system that acknowledges a state's inability to fully plan the economy due to imperfect information. > The basic concept of capitalism is that there are capital owners, and they hire workers who use that capital to generate value. The capital owners receive all of that value and then pay the workers for their time. These are both true.