Capitalism is the only free-market economic system. It is based on the liberty, private ownership, and the idea that people should be able to keep as much of what they produce as possible. It's also based on "Capital" (money) and that you should be able to invest, produce, and voluntary exchange: the prices are set by the two sides (producers and consumers) and not bureaucrats or politicians (the law of supply and demand).
It was the most productive and free system ever created, and it raised billions out of poverty: though since it allows unequal results for unequal abilities or unequal effort, it allows for incomes to vary wildly based on the contributions made to humanity (as seen by consumers). The misinformed bigots (Marxists) think that it exists only through exploitation of the working class, or that it prioritizes profit over social good, natural resources and the environment. Or that it promotes inequality (kinda), corruption (false), or economical instability (also false). While in truth, Socialism does all of those, more than Capitalism: the political class is always empowered with more rights and money, and centralizing power always empowers corruption (you can't bribe someone that has no power), and Socialist systems underperform and usually collapse back to free'er markets, where they take off and become more stable. Innovation through competition, encouraging wealth to all productivity and decentralization of power, creates strong economic growth and yields productivity and prosperity that greatly benefit society.
Capitalism : 7 items