Merriam-Webster. Definition of CAPITALISM. December 2023. URL: https://www.merriam-webster.com/dictionary/capitalism (visited on 2023-12-10).
It defines capitalism as private ownership and free market competition, but ignores the extreme inequality of ownership and the enormous power held by capital holders. It also views "competition" as always leading to good results, when in reality, competition can degenerate into monopolies, exploitation, or companies disregarding ethics in pursuit of profit maximization.