Before revision: Central characteristics of capitalism include capital accumulation, competitive markets, price systems, private property, recognition of property rights, self-interest, economic freedom, meritocracy, work ethic, consumer sovereignty, profit motive, entrepreneurship, commodification, voluntary exchange, wage labor, production of commodities and services, and focus on innovation , economic efficiency and economic growth.
After revision: Central characteristics of capitalism include capital accumulation, competitive markets, price systems, private property, recognition of property rights, self-interest, economic freedom, meritocracy, work ethic, consumer sovereignty, profit motive, entrepreneurship, commodification, voluntary exchange, wage labor, production of commodities and services, and focus on innovation economic efficiency, limited role of government, and economic growth.