[DeonPenny]

You can't just redefine what adam smith said about the concept of modern capitalism. What you described can be easily said about north korea. The elite own everything and the workers own nothing. Is north korea capitalist. NO! Cause the workers can't built or create anything of their own.

In the US thats why 80% of the millionaires are self made. Because someone in a middle class or lower class can make something people want and people can choose to give them money. Working and not owning anything isn't static in this system

[lucian1900]

I gave you an expanded textbook definition. Here’s Wikipedia’s: “Capitalism is an economic system based on the private ownership of the means of production and their operation for profit.”

Have you been to the DPRK? Who told you the means of production there aren’t controlled democratically by workers? Was it perhaps media owned by capitalists with a vested interest in slandering alternatives to capitalism?

[DeonPenny]

But you can't expand a definition that was already define. You can make apples also include oranges just because you don't like the definition of what an apple it.

[lucian1900]

Wikipedia's definition also describes it in terms of who owns the means of production and what motivates production.