Capitalism

Capitalism: An economic system based on the private ownership of the means of production and distribution of goods, characterized by a free competitive market and motivated by profit (also see: Free Market System, Laissez-Faire Economics, and Economic Individualism)

Capitalism, unlike coercive economic systems, permits an opportunity to utilize excess production to enlarge the productive capacity, thus raising society’s standard of living; contrasted to a coercive economic system in which excess will be diverted to satisfy the wants and whims of the ruling class.

Proponents of Coercive Economic Systems use straw man arguments that attach attributes to Capitalism to attack it. One such straw man is the class division attack, which is interesting because Capitalism is classless with each trade independent and each party having the right to accept or refuse the exchange. However in a Coercive Economic System, one party has the ability to use coercion to alter the terms of an exchange, or create an involuntary exchange usually to the advantage of the party most closely aligned with the ruling class.