Capitalism is defined by wage labor, private means of production, and profit.

Evidence

Capitalism is a socioeconomic system in which employers use their private means of production to hire wage labor in order to produce commodities whose sale generates profits. The system’s two pillars are wage labor and the private means of production. The roof of the system is profit. These two pillars are the attributes of the two main classes that confront each other in society: workers, who live primarily off their labor income, and capitalists, who live primarily off capital income in the form of dividend and interest payments. — Clara E. Mattei, Escape from Capitalism, 58

Categorization

• DEFINE: Provides a concrete, technical-free working definition of capitalism as wage labor plus private means of production plus profit.
• XREF: connects to: Capitalism is defined by private capital, propertyless wage labour, and competitive markets — Anthony Giddens, The Consequences of Modernity, 150; Wage labor is capitalism’s primary pillar and historical precondition.

Broader Connections

• Capitalism is defined by private capital, propertyless wage labour, and competitive markets #corroborates (0.95) — Anthony Giddens, The Consequences of Modernity, 150
• Wage labor is capitalism’s primary pillar and historical precondition. #expands (0.80)