“The business of America is business.”
President Calvin Coolidge in the 1920s
• Economic System in which private
individuals or companies own and
control property and businesses and
compete with one another to make a
Principles of Capitalism
1. Self Interest
2. Protection of Private Property
3. Free Enterprise
• People will act in their own best interests and
therefore make goods and services most
Protection of Private
• People have the right to do what they want
with their own property/capital.
• The declaration of Independence initially held
the phrase, “Life, Liberty and the Pursuit of
Property.” (Why do you think it was changed
to the Pursuit of Happiness?)
• System that is against government
interference in private property.
• Leads to lower prices and higher quality as
businesses try to make a profit.