Original sentence: The many and sometimes contradictory definitions of capitalism use some combination of the following statements: an economic system dominant in the Western world and following feudalism; today not present in a pure form but only partially in the current "mixed economy"; the right of individuals to own, and trade private property including capital goods; the right of groups of individuals to act as a corporation with distinct legal personality and responsibility; a free or relatively free market where price is determined by supply and demand; investment for profit with the risk of loss of the investment; investment decisions are made privately; competition for this profit; the value of labour is determined by the market; in minarchist theory, the role of government is limited mostly to protecting economic liberty and private property; in anarcho-capitalist theory, peaceful, voluntary exchange which is fully realized only without a state; in marxist theory, exploitation of workers by the owners of capital
Edited sentence: 2) Investment, distribution, and production decisions are privately determined.3) Prices are determined by trades that occur in a free or relatively-free market.4) A competitive environment exists that is favorable for owners of capital.Capitalism is an economic or social system typically regarded as being comprised of the following conditions: 1) The "means of production" or capital are privately or corporately owned and operated in order to obtain a profit.Noteable economists and political philosophers differ broadly in this regard.Others hold that it has existed in the past, such as in early America, but no longer exists.Probably most assert that it exists in some economies today.See definitions of capitalism for various published definitions.Some assert that capitalism has never existed.Some maintain that capitalism was institutionalized between time frames approximately corresponding to the period between the 16th and 19th centuries in Europe