The capitalism

Review article

Abstract

Capitalism is a socioeconomic system where the economy of society is based on the laws of the market and on the interaction of competition and individual interest. In a capitalist society, people and companies carry out the production and exchange of goods and services through transactions that involve prices and markets. The origins of capitalism date back to the time of the Industrial Revolution, where the precursor was the Scottish philosopher Adam Smith, being the first to write the basic economic principles that define this economic system.

Keywords: capitalism, economy, production, goods, services.