Essays on Douglass North

Thesis statement

Capitalism is an economic system based on the private ownership of the means of production, with the goal of making a profit.1 This is a quote and will be used in the introduction. Source : Capitalism Oxford Dictionaries. Retrieved 4 January 2013.

- John Maynard Keynes believes that capitalism is essential for freedom to survive and thrive. This is a paraphrase and will be used in I.2 Source: Capitalism. Wikipedia (Accessed May 13, 2013). - Capitalism is a social system based on the recognition of individual rights, including property rights, in which all property is privately owned.3This is a quote and will be ...

Thesis statement

Capitalism is a social and economic system that stresses in privately controlled economy in production, pricing and distribution of goods in a market and has many benefits compared to other economic forms. The Oxford Dictionary defines Capitalism as “an economic system based on the private ownership of the means of production, with the goal of making a profit”.

Capitalism produces more wealth and production as they reduce the expenditure in production.

John Maynard Keynes, the British Economist who contributed significantly to the Keynesian economic school of thought, believes that capitalism is essential for freedom to survive and thrive. Wherever Capitalism as a policy has been adopted, the result has invariably been one that of progress and ...