Original sentence: Capitalism — both the word and the system to which it refers — is an object of considerable contention, and is thus not easily defined (see definitions of capitalism).Many of these theories call attention to various economic practices that became institutionalized in Europe between the 16th and 19th centuries, especially involving the right of individuals and groups of individuals acting as "legal persons" (or corporations) to buy and sell capital goods, as well as land, labor, and money (see finance and credit), in a free market (see trade), and relying on the state for the enforcement of private property rights rather than on a system of feudal protection and obligations
Edited sentence: Capitalism is generally defined as an economic system where the means of production are privately owned and operated for profit; investment, pricing, and distribution decisions are privately made rather than instituted by state control; and a free market exists for goods and services.Many of these theories call attention to various economic practices that became institutionalized in Europe between the 16th and 19th centuries, especially involving the right of individuals and groups of individuals acting as "legal persons" (or corporations) to buy and sell capital goods, as well as land, labor, and money (see finance and credit), in a free market (see trade), and relying on the state for the enforcement of private property rights