Canadian capitalism

What is Capitalism?

An economic system where individuals or businesses privately own resources and make decisions to earn profits.

What are the central features of capitalism?

Wage labour, private ownership of the means of production, and production for exchange and profit.

What is private property in the context of capitalism?

The legal right to own and use property such as land and buildings.

Who is Martin Shkreli and what controversy is he known for?

An American former hedge fund manager known for increasing the price of the life-saving drug Daraprim from $13.50 to $750 per pill.

How is economic freedom measured?

Through property rights, taxation, government intervention, regulations, international exchange, foreign investment, money and inflation, wage and price controls, and corruption.

What is systems thinking?

Looking at the whole system rather than its parts.

What does consumer sovereignty mean?

Consumers have more power in decision over producers.

What is the ideal role of government in perfect capitalism?

In perfect capitalism, there would be no government intervention.

What are some pros of capitalism?

Economic efficiency, consumer choice, innovation, individual freedom.

What are some cons of capitalism?

Income inequality, market failures, exploitation of workers, environmental impact.