Quote by Ayn Rand, Capitalism: The Unknow
Capitalism is a social system based on the recognition of individual rights, including property rights, in which all property is privately owned.
Summary
This quote explains that capitalism is a societal structure that is predicated on upholding individual rights, particularly property rights. It emphasizes that in a capitalist system, all property is privately owned, underscoring the importance of individual ownership in economic transactions. This description highlights the fundamental principles that underlie capitalism's framework, which aims to foster economic growth, incentivize individual initiative, and preserve personal freedoms within the domain of property ownership and economic activities.
Topics
Capitalism
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