A mode of production in which the private ownership of the means of production predominates, and under which the only logic of production is the generation of profit AKA surplus value. Capitalism is typified by the logic of capital and it is dominated by commodity production.
The three primary classes of capitalism are: the bourgeoisie, the petit-bourgeoisie, and the proletariat.
The capitalist mode of production can be expressed as M-C-M’ (production), C-M-C (circulation), and M-C (consumption) where M = money, C = commodity, and M’ = money increased.
