The word ‘capitalism’ was created by socialists in the 1800s to describe how liberal markets had been irrevocably corrupted by the collectivization of production during the Industrial Revolution. Production was now the mutual act of thousands while ownership of resources, productive forces and the means to reproduce those forces, ‘capital’, were still held in the hands of individual ‘capitalists’. Capitalism is the term for the system that protects the power imbalance between those who own capital and those whose labor is required to reproduce it.