Term used to denote numerous economic systems in which the instruments of production and capital goods are owned by private individuals or corporations, investments determined by private decision, and production and prices largely set in a free market. Capitalism is at times regarded as the opposite of socialism* or communism. Some theologians and chs. have discussed capitalism from the viewpoint of social ethics* and human rights. See also Capital and Labor.
Edited by: Erwin L. Lueker, Luther Poellot, Paul Jackson
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The Lutheran Church--Missouri Synod
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