Learn about capitalism and the capitalist economy. Take online capitalism courses on edX today!
What is capitalism?
Capitalism is an economic system based on private ownership of the means of production. It recognizes private property rights, capital accumulation, voluntary exchange, and wage labor.
The philosophy recognizes several different methods of implementing a capitalist economy -- free market or laissez-faire capitalism, state capitalism, and even welfare capitalism. These methods have different implementations for free enterprise, as well as varying degrees of public ownership, government intervention, and regulation.
Capitalism began as a method of economic freedom, placing the full allocation of decision-making with the owner of the production means. The market system also seeks a high standard of living for those able to accumulate capital, but certain mixed economies can accommodate social welfare.
Learn about Capitalism
The edX platform offers a path for learning and exploration in a variety of topics, including capitalism. Courses are designed in partnership with leading thinkers in the field of economics, history, and other topics. Students study with a global cohort of students and build a foundational knowledge base in the process.
Most courses are free for personal growth, but students may opt into official credit, certification, or even degrees for a fee. edX provides a way for students to explore what interests them and build a career in the process.
Capitalism Courses and Certifications
PrincetonX offers a Global History of Capitalism. Students will identify significant turning points in the development of Capitalism. The program will outline the development and timeline of this political economy, and students will read key writings from the field.
For a different perspective on Capitalism, Babson offers a course on Conscious Capitalism. Learners will explore beyond concepts such as sustainability or corporate social responsibility. This new economic theory could help businesses transform and build a new era of capitalist society.
Finally, CornellX offers a course on American Capitalism. Students will study the way that American capitalism developed through historical readings and philosophies.
Understanding Capitalism's development
The development of a market economy and the economic growth during the renaissance led to the beginnings of a capitalist system. Thanks to the industrial revolution and the resurgence of the middle class, capitalism is a strong market contender in the world today.
Students can study works from economist Adam Smith or explore alternative economic theories like those from Karl Marx. As countries explore the best ways to foster economic activity and competitive markets, free trade could be one possibility. Theorists look to mistakes In feudalism, the evils of imperialism, and the missteps of modern economies to build newer, better systems. edX students could be part of that cohort of great thinkers one day, thanks to education from its partners.