Abstract
Capitalism is a dialectical system of production explaining how the exchange of money for labor transfers wealth from the laborer, producing products/services to controllers of the processes, namely, the owners of capital. Capitalism through facilitating the conversion of raw material to finished products and services, using the unpaid portion of the labor, the surplus value, used in the production, accumulates wealth. Capitalism as a mode of production is one historical epoch, transforming local feudalist systems into global industrial production system. Capitalism as a system of production includes social, economic, and political forces and dynamics, each giving rise to its dialectical movement.
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Kazeroony, H.H. (2017). Capitalism. In: Augier, M., Teece, D. (eds) The Palgrave Encyclopedia of Strategic Management. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-94848-2_26-1
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DOI: https://doi.org/10.1057/978-1-349-94848-2_26-1
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Publisher Name: Palgrave Macmillan, London
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