Help - Search - Members - Calendar
Full Version: Basic economic system of the worlds
AsianFanatics Forum > Once Upon a Lifetime > War of the Words
ViLeL
Which one do you think is the best? Capitalism, communism, socialism or mixed economy? WHY?
xiaolongbao
Doesn't really matter economically. No matter what the system is, the poor do most of the work while the rich reap most of the rewards.
Elephant
Basic economic systems such as capitalism, communism and socialism have their own advantages and disadvantages that you can't affirm which is the best because it may depend on individuals' political point of view.

As given to capitalism, it used to reckon that capitalism had prominent features over other economic systems as communism and socialism when it offered individuals great freedom of choice in what work people did and where they did, giving credit for a nation’s growth rise to international prominence. Profits motivate entrepreneurs to use resources efficiently and produce goods that consumers most want. However, the profit motive sometimes becomes so strong that businesses harm the society in which they operate. For example, some businesses have increased profits by dumping pollutants into nearby rivers or by eliminating competitors or making extravagant but untrue claims about their products.

Therefore, nations in the world have tendency to apply a mixed economy (mixture of capitalism and socialism) in which one basic economic system is intermingled with elements of another system for the purpose to get advantageous features of these economic systems. Nowadays you won’t see many countries including the US and China have a purely capitalistic, communistic or socialistic system. Almost most of them have a mixed economy of capitalism and socialism. That’s why you can say the mixed economy is the best economic model at present.
Majestic
For our society to progress it is generally accepted a mixed economy that is heavily laissez faire is good.

But with government interference in some parts.
Warren Buffett
Mixed because all economic systems in the world are mixed.
Sunshine_SekSek
any economy, and some one will inevitably lose out. kind of forgotten what socialists do =.=".. what an economics fail. i think (though hazy education) that in socialist and communist structures, the elite.. or rather the gifted and talented, lose out. they do not have the chance to fulfill their potential because they are limited to their homogenous role in society. and again, the people who do not try hard wil still get a job because communism provides for everyone. (im not big on the left-wing.. is that just an england thing?)
so perhaps i lean towards laissez-faire, but can laissez-faire really benefit the people... hmmm.. the mass get exploited. it is difficult to decide which is best because, if it was that easy, surely our governments would have figured it out by now. because there doesnt seem to be one that will ever work perfectly, we should stick with a mixed economy...
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.
Invision Power Board © 2001-2009 Invision Power Services, Inc.