In Marxian economic discourse the capitalist mode of production refers to the socio-economic base of capitalist society which began to grow rapidly in Western Europe from the end of the eighteenth century, and later extended to most of the world. It is characterised by the predominantly private ownership of the means of production, distribution and exchange in a mainly market economy. The owners of capital are the dominant capitalist class (bourg...
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In Marxian economic discourse the capitalist mode of production refers to the socio-economic base of capitalist society which began to grow rapidly in Western Europe from the end of the eighteenth century, and later extended to most of the world. It is characterised by the predominantly private ownership of the means of production, distribution and exchange in a mainly market economy. The owners of capital are the dominant capitalist class (bourgeoisie). The working class (proletariat) who do not own capital must live by selling their labour power in exchange for a wage.
The capitalist mode of production may exist within societies with differing state systems (e.g. liberal democracy, fascism), and different social structures.
The existence of “capital” presupposes only property relations which make it possible to make money from trade in goods, money and services, and to accumulate that money.
“Capitalism” as a money-making activity could exist in the shape of merchants and bankers...
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