Definition:
An economic system based on private ownership of resources and the production of goods or services for profit, where value is primarily measured in financial terms and mediated through markets.
Critical Note:
While often framed as neutral or natural, capitalism embeds specific assumptions about value, productivity, and worth. These assumptions shape culture, behaviour, and policy in ways that privilege profit over wellbeing, sustainability, or human need.
Related Terms:
Late-Stage Capitalism, Value Extraction, Consumerism, Austerity, Behavioural Governance