What underlies the belief system in capitalism?

The belief system underlying capitalism is primarily centered around the pursuit of personal profit. In a capitalist system, individuals and businesses operate within a framework that encourages private ownership of resources and means of production. This environment fosters competition, innovation, and efficiency, as each entity seeks to maximize its own profits. The idea is that by pursuing personal financial gain, individuals contribute to economic growth and, subsequently, to society as a whole. This self-interest is considered a driving force that leads to wealth generation and improved standards of living.

Capitalism also emphasizes individual agency and the ability to make economic choices. This creates a dynamic market where supply and demand dictate prices, and consumers have the power to influence production based on their preferences. The aggregate of these personal pursuits ultimately results in the functioning and development of a market economy. Such a focus on individual profit stands in contrast to systems that prioritize collective ownership or the welfare of society as a whole. In these alternative systems, economic actions are often aimed at achieving broader social goals rather than individual financial gain.