Noun
the set of circumstances or facts that
surround a particular event, situation, etc.
一系列的情况或事实
围绕一个特定的事件、情况等。
an economic system in which investment in and
ownership of the means of production,
distribution, and exchange of wealth is made
and maintained chiefly by private individuals or
corporations, especially as contrasted to
cooperatively or state-owned means of wealth.
一种经济制度，其中生产资料的投资和所有权。
财富分配和交换的投资和所有权主要由个人或团
体进行主要由私人或公司进行和维持的经济制
度。财富的投资和所有权主要由私人或公司进
行和维持，特别是与 合作或国有的财富手段。
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Freedom (free market economy)自由(自由市场经
济)
Factors of production owned by individuals
生产要素由个人拥有
Main motive is profit主要动机是利润
Laissez-faire (unplanned, uncontrolled by
government)放任自流（无计划，不受政府控制）
Competition is a very important feature竞争是一
个非常重要的特征
Buyers and sellers motivated by self interest买家
和卖家以自我利益为动机
Robert Heilbroner和Lester Thurow，《经济学解释》
（1982年）。
“[F]rom the beginning, capitalism has been
characterized by a tension between
laissez-faire and intervention
—laissez-faire representing the expression
of its economic drive, intervention its
Democratic political orientation.“
[从一开始，资本主义的特点就在于
的特点是，在自由放任和干预之间存在着紧张关系。
放任自流和干预
-自由放任代表其经济动力的表达，干预代表其民主
政治取向。
Noun
a theory or system of social organization that
advocates the vesting of the ownership and
Control
of the means of production and distribution, of
capital, land, etc., in the community as a whole.
一种社会组织的理论或制度，主张将生产和分配手
段的所有权和控制权交给整个社会。
主张将生产和分配手段、资本、土地等的所有权和
控制权交给整个社区。
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Factors of production owned by state
国家拥有的生产要素
Production for use not profit
生产是为了使用而不是盈利
Equality of individual wealth
个人财富的平等性
Absence of competition
不存在竞争
Planned economy
计划经济
 Socialism without democracy
 没有民主的社会主义
 Totalitarianism
 极权主义
米尔顿-弗里德曼，《资本主义与自由》（1962）。
“History suggests only that capitalism is a
necessary condition for political freedom. Clearly
it is not a sufficient condition.”
"历史只表明，资本主义是政治自由的一个必要条
件。 显然，它不是一个充分的条件"。
理查德-M-尼克松，《超越和平》（1994）。
“Capitalism works better than it
sounds, while socialism sounds
better than it works.”
"资本主义比它听起来好用，而
社会主义听起来比它好用"。
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Tragedy of the Commons
 One Firm
 Price setter
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Small number of producers/sellers
生产商/销售商数量少
Sellers watch each other closely as they strongly
influence each other
卖方密切关注对方，因为他们彼此之间有很大影
响
Price setters价格制定者
Sellers best option is to cooperate with each other
to act as a monopoly
卖方的最佳选择是相互合作，充当垄断者。
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Many sellers and buyers许多卖家和买家
No one producer/buyer has enough power to
change the market没有一个生产者/购买者
有足够的力量来改变市场
Products are differentiated产品是有区别的
Price setters价格制定者
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No buyer or seller has enough power to
influence the market
没有买家或卖家有足够的力量来影响市场
Products are seen as perfect substitutes
(commodities)
产品被视为完全替代物（商品）。
No differentiation
没有差异化
Sellers are price takers
卖家是价格接受者