capitalist mode of production (Marxist theory)

In Karl Marx's critique of political economy and subsequent Marxian analyses, the capitalist mode of production refers to the systems of organizing production and distribution within capitalist societies. Private money-making in various forms (renting, banking, merchant trade, production for profit, etc.) preceded the development of the capitalist mode of production as such. The capitalist mode of production proper, based on wage-labour and private ownership of the means of production, and on industrial technology, began to grow rapidly in Western Europe from the industrial revolution, later extending to most of the world.