What provision of the u. S. Constitution supported capitalism as an economic approach?.

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24-11-2022
Business

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What provision of the u. S. Constitution supported capitalism as an economic approach?.

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febyyyvaalentina febyyyvaalentina · Answer 1 · 2022-12-01T15:16:21+01:00

Clause preventing the government from interfering with the contract. This article supports capitalism as an economic approach.

Capitalism is an economic system that provides complete freedom for everyone to control economic activities such as trade, industry and the means of production with the aim of making a profit. In another sense, capitalism is an economic system in which all economic activities are carried out by the private sector and not the government. Here, the government's job is only as a supervisor.

Following are the characteristics of capitalism

Recognition of the personal rights of each individual.
Ownership of the means of production by individuals.
Individuals are free to choose their own work or business.
The economy is governed by market mechanisms.
The government has a very small role in economic activity.
The motive that drives the economy is to make a profit.
Humans are seen as homo-economicus, namely individuals who always pursue their own profits.
The notion of individualism is based on materialism or hedonism (an inheritance from the ancient Greek era).

You can learn more about Capitalism here brainly.com/question/7672602

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