What Are the Four Basic Rights That Form Capitalism's Foundation?

What Are the Four Basic Rights That Form Capitalism's Foundation?

The basic rights that form capitalism's foundation include the right to own private property and the right to own a business and keep profits after taxes are paid. In addition, capitalism supports the freedom to compete and the freedom of choice.

With these four rights assured, people are more likely to be risk-takers. Within the structure of capitalism, most methods of production and distribution are privately owned and run for profit. Business owners determine resource allocation and prices. Although no nations are strictly capitalistic, most developed countries, including the United States, England, Canada and Australia, primarily base their economies on capitalism.