Original sentence: (see also definitions of capitalism).Anarcho-captitalists aspire to realize the low restriction abstract market as an ideal.Capitalism is an economic system where private property rights are exchanged in markets that under conditions of relative freedom exhibit spontanous order, an equilibriating of price, supply and demand.During the Industrial Revolution, mercantilism was recognized as hampering economic growth and efficiency, and was replaced by less restrained market conditions exhibiting much of the spontanous order of capitalism.Economies throughout history and in various parts of the world exhibiting this market behavior are generally called capitalist or mixed economies depending on the extent of government intervention beyond mere protection of property and contractual rights.Most theories of capitalism developed in the 18th century, 19th century and 20th century, the seminal theories were advanced by Adam Smith in the 18th century, and then in the context of the industrial revolution and European imperialism (e.The abstraction of unrestricted markets serves as an analytic tool in which real world markets are modeled as perturbations of that abstract ideal behavior.Various levels of information costs, transaction costs and other restrictions are imposed upon the ideal behavior in an attempt to replicate the behavior of real world markets
Edited 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).Most theories of capitalism developed in the 18th century,19th century and 20th century, the seminal theories were advanced by Adam Smith in the 18th century, and then in the context of the industrial revolution and European imperialism (e