Capitalism is a social system based on the recognition of individual rights

What is capitalism?

Capitalism is a social system based on the recognition of individual rights, including property rights, in which all property is privately owned. Under capitalism the state is separated from economics (production and trade), just like the state is separated from religion. Capitalism is the system of of laissez faire. It is the system of political freedom.

What is a capitalist?

An advocate of laissez-faire is known as a capitalist, e.g., novelist Ayn Rand is a capitalist; e.g., though economically Engels came from a wealthy background, politically he is recognized as a socialist/communist because of his ideas; e.g., billionaire George Soros is not a capitalist as he does not advocate capitalism, but he advocates some form of a mixed economy statism. Soros like Ted Turner is a "socialist at heart."

Where can I learn more?

Take the Capitalism Visual Tour. The Capitalism tour is an excellent presentation that highlights the foundations of capitalism.