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Capitalism is the social system based upon private ownership of the means of production which entails a completely uncontrolled and unregulated economy where all land is privately owned. But the separation of the state and the economy is not a primary, it is only an aspect of the premise that capitalism is based upon. This premise is individual rights. Capitalism is the only economic system centered upon the doctrine of individual rights. This means that capitalism accepts that each and every person is the owner of his own life, and has the right to live his life in any manner he chooses as long as he does not violate the rights of others. Throughout its history, but especially during its rise in the 19th century, capitalism has had several main traits. First, basic production facilities—land and capital—are privately owned. Capital in this sense means the buildings, machines, and other equipment used to produce goods and services that are ultimately consumed. Second, economic activity is organized and coordinated through the interaction of buyers and sellers in markets. Third, owners of land and capital as well as the workers they employ are free to pursue their