Traditional Capitalism

Traditional Capitalism

Capitalism is an economic system based on private ownership of the means of production and their operation for profit.

Characteristics central to capitalism include private property, capital accumulation, wage labour, voluntary exchange, a price system and competitive markets.

In a capitalist market economy, decision making and investment are determined by the owners of the factors of production in financial and capital markets, and prices of goods are mainly determined by competition of goods in the market. 

In TRADITIONAL CAPITALISM:-
You have two cows
You sell one and buy a bull
Your herd multiples and the economy grows
You sell them and retire on the income

So here are the traditional values of capitalism :-

- Make things that people want or do things that people want done in exchange for money or other valuta.
-  A high standard of living is just the reward of hard work and intelligence. If other places have lower standards of living then the problem is the lower standard not the higher one.
- people safeguard, nourish and improve that which they know will not be taken from them. Tax a little if you must, but at some point  you must let people own it.
-  The fundamental morality of capitalism lies in the voluntary values of its trades, consented to by all parties, and therefore providing a gain to all. 

Traditional capitalism believe that in countries that are lawfully and just, the government is the refree, not a player. If the refree runs on to the fields and kicks the football, things start to get scary.
Hence, a wise philanthropy is a privilege and responsibility of achieved wealth.