What is accepted by chief monetarists primarily? (10)

'what is accepted by chief monetarists primarily?' is the definition.
I can't judge whether this defines the answer.

'is accepted by chief monetarists primarily?' is the wordplay.
'accepted by' is an insertion indicator (inserted letters are accepted).
'chief' becomes 'capital' (I can't explain this - if you can you should give a lot more credence to this answer).
'primarily?' suggests taking the first letters (I've seen 'primarily' mean this).
The first letter of 'monetarists' is 'm'.
'capital'+'m'='capitalm'
'is' put inside 'capitalm' is 'CAPITALISM'.

Can you help me to learn more?