What is capitalism as noted in the book, The Virtue of Selfishness?

Capitalism is an economic system characterized by private or corporate ownership of property. Rand discusses how in this system, individuals determine the production and distribution of goods within the society by investing and competing in the free market. Individuals can only obtain wealth independently, and prices of products are not determined by the government but by competition. Rand ardently supports capitalism and deems it the only virtuous economic system for a free society to practice. Though the United States has never operated on a completely capitalist system, she praises the U.S. for its largely capitalist principles. She believes that not only is capitalism the most ethical economic system but it is the most rational and the most successful.