Key features of capitalism
A study of capitalism reveals the following key features: —
1. Private Property and Inheritance. The most important feature of capitalism is the existence of private property and the system of inheritance.
2. Private Ownership and Management of Means of Production. Allied with this feature is another, viz., that instruments of production are owned by private individuals and they are managed by the owners exclusively for their own benefit. Thus, private individuals are the owners of farms and factories. They carry on the business of agriculture, trade and industry for their own personal profit and not for the benefit of the society. The result is that the lion's share of the national dividend goes to the powerful capitalist and the rich landlord. The masses are exploited and do not get a fair return on their labor.