Capitalism can be many different things, but it is fundamentally an economic system based on these three things; wage labor or work for wages, private ownership or control of the means of production, and production for exchange and profit. Capitalism has many characteristics, such as capital accumulation, competitive markets, and wage labor. These are the central characteristics of capitalism. It is important to recognize the term Laissez-faire which literally means “let them do it”. There are also many types of capitalism, such as free market capitalism, state capitalism, welfare capitalism, corporate capitalism, etc. Capitalism has existed under many forms of government, in different places, times and cultures. It has also become one of the most dominant economic systems. Wage labor is one of the many components of capitalism. Salaried work is essentially the socio-economic relationship that is established between a worker and the person who employs him. People will be paid for their work or work. It is known to be one of the most common forms of work in the world. There are also four different types of salaried work: professional status, marital status, method of payment and method of hiring. Karl Marx had also written an essay “Wage Labor and Capital” in which he observed how capitalism worked and how it would not succeed. Marx would be known for Marxism, known as a method of socio-economic analysis. Second, there is private property on which Karl Marx also had an influential view. This is essentially the ownership of property owned by people who are not associated with the government. Many examples of this are owning things like farms, factories, machinery, and offices. Privately owned and...... middle of paper ......n by the government as Webster says. If they want capitalism to continue, it's essentially up to the people, it's up to the working class. It will only survive if we let it survive. It has only been around for 200 to 300 years. The two classes, the capitalist class or “bourgeoisie” in Marxist jargon, and the second group which is the working class or “proletariat”, really make the difference. Most of capitalism relies on the simple process of investing money to create more money for people. The driving force of the economy is essentially capital accumulation, where capital increases. For money to generate more and more money, many things must be exchangeable for money. In a world where everything must be sold and is for sale, come those who sell their own ability to work. The things people produce at work do not belong to them but are those of their bosses..