The foundation of Capitalism as a governance system is that people have four (4) basic rights: [1]

  1. The right to own private property: This is the most fundamental of all rights under capitalism. Private ownership means that individuals can buy, sell, and use land, buildings, machinery, inventions, and other forms of property. They can also pass that property on to their children.
  2. The right to own a business and keep all that business’s profits: Profits act as an important incentives for business owners
  3.  The right to freedom of competition
  4. The right to freedom of choice: People are free to choose where they want to work and what career they want to follow. Other choices people make include where to live and what to buy and sell.

Franklin Roosevelt believed there were four additional freedoms to economic success: [1]

  1. Freedom of speech and expression
  2. Freedom to worship in your own way
  3. Freedom to want
  4. Freedom from fear

AcqLinks and References:

  • [1] Nickels and McHugh, “Understanding Business” McGraw-Hill Irwin 2010
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