Capitalism is an economic system based on private ownership of the means of production, in which personal profit can be acquired through investment of capital and employment of labor. It stresses freedom of individual economic enterprise but does not presuppose a specific form of social or political organization. Government action has been and is required to curb its abuses, which have ranged from slavery to monopoly cartels and financial fraud. What is the "invisible hand"?
Back in the day
Elizabeth II, Queen of Great Britain and Northern Ireland, is the elder daughter and successor of George VI. At age 18, she was made a State Counsellor, a confidante of the King. During WWII, she trained as a second lieutenant in the women's services. On Nov. 20, 1947, she married Philip Mountbatten, duke of Edinburgh. They were in Kenya when the King died, and Elizabeth succeeded to the throne. Her coronation, on June 2, 1953, was the first to be televised. Where did the coronation take place?
Born on a day like today
Hardy was an English writer and poet of the naturalist movement. His characters are for the most part of the poorer rural classes and are sympathetically and often humorously portrayed. Their lives are ruled not only by nature, but also by rigid Victorian social conventions, and the physical harshness of the bleak and forbidding Dorset landscape that they occupy echoes that of an indifferent universe. Why did Hardy give up writing novels altogether at the height of his success?