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Capitalism: essay on capitalism (market economy) capitalism is ‘a system of economic enterprise based on market exchange’ the concise oxford dictionary of. The controversy over development and democracy capitalism and democracy in this essay almond controversy over development and democracy 2. Capitalism and democracy essaysthe relationship that exists between capitalism and democracy is one that contradicts itself it is obvious that the nations that. Democracy and capitalism rest on an ideal of equality: everybody may share in political decision-making and do the best they can in the market.