- published: 24 Jul 2015
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Capitalism is generally considered to be an economic system that is based on private ownership of the means of production and the creation of goods or services for profit or income by individuals or corporations. Some have also used the term as a synonym for competitive markets, voluntary exchange, wage labor, capital accumulation, or personal finance. Capitalism is variously defined by sources and there is no general consensus among scholars on the definition nor which economies can historically be properly considered capitalist. The designation is applied to a variety of historical cases, varying in time, geography, politics, and culture. There is, however, general agreement that capitalism became dominant in the Western world following the demise of feudalism.
Economists, political economists and historians have taken different perspectives on the analysis of capitalism. Economists usually emphasize the degree to which government does not have control over markets (laissez faire), as well as the importance of property rights. Most political economists emphasize private property as well, in addition to power relations, wage labor, class, and the uniqueness of capitalism as a historical formation. The extent to which different markets are free, as well as the rules defining private property, is a matter of politics and policy. Many states have what are termed mixed economies, referring to the varying degree of planned and market-driven elements in a state's economic system. A number of political ideologies have emerged in support of various types of capitalism, the most prominent being economic liberalism.
David L. Ramsey III (born September 3, 1960) is an American financial author, radio host, television personality, and motivational speaker. His show and speeches strongly focus on discouraging the use of debt.
Ramsey's syndicated radio program The Dave Ramsey Show is promoted with a tagline that "It's about your life and your money," and it is heard on more than 500 radio stations throughout the United States and Canada, as well as in podcast format and on XM and Sirius satellite radio. He has written numerous books. His books and broadcasts often feature a Christian perspective that reflects Ramsey's religious beliefs. Ramsey was named the 2009 Marconi Award winner for Network/Syndicated Personality of the Year.
Ramsey's company, The Lampo Group, Inc., is headquartered in Brentwood, Tennessee, and oversees three divisions geared toward financial counseling.
Ramsey has been featured on many media outlets including The Oprah Winfrey Show, 60 Minutes, and The Early Show on CBS. He recorded a pilot and six unaired episodes of The Dave Ramsey Project for CBS. He was the host of The Dave Ramsey Show, which aired at 8 p.m. ET and repeated weekdays on the Fox Business Network until June 2010.