who controls the economic activity in a capitalist system
Capitalism Historically, capitalism has an ability to promote economic growth as measured by gross domestic product (GDP), capacity utilization or standard of living. This argument was central, for example, to Adam Smith's advocacy of letting a free market control production and price and allocate resources. Many theorists have noted that this increase in global GDP over time coincides with the emergence of the modern world capitalist system.[86][87]
Anglo-Saxon model Characteristics of this model include low levels of regulation and taxes, and the public sector providing fewer services. It can also mean strong private property rights, contract enforcement, and overall ease of doing business as well as low barriers to free trade.
Peter Angelos Angelos is also the majority owner of the Baltimore Orioles, a baseball team in the American League East Division.
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