Question

Do you think, overall, that countries in the world are becoming more democratic, or less democratic, in nature? Why? Also, are there any places in the world, today, where “pure”, “free market” capitalism exists? If so, what is it about these locations that permit this ideological approach to thrive? (minimum of 300 words and in full sentences).

Answer 1

In this case, all the countries in the world are becoming more democratic in nature if we consider the situation on a practical basis because of the involvement of the government in every sector.
In the world, there are many places where pure free-market capitalism exists and always there is a competitive market everywhere.
The capitalist approach means the main motive to earn profit not to give welfare to the society.
In capitalism, the ownership of the corporate sector is in the hands of businessmen and corporations and the purpose is to generate the maximum return from the investment.
The capitalist approach is beneficial for the rich class of the business class and government also take the advantage of the capitalism approach but in reality, the Welfare part of the capitalism is not at all acceptable in the society because the middle class and the poor class of the society are not able to receive the maximum benefit or the true benefit that is promised by the government for the capitalist to give or to return to the society in the way of social welfare.
The free market in the economy means an approach in the economic system which is based on the demand and supply forces in the market and there is no government control.
It means the price determination is on the basis of demand and supply intersection in the market and this intersection is also called as equilibrium price and equilibrium quantity in the market where we are ready to purchase the commodity at a specific price and sellers are ready to sell the commodity at the equilibrium price.
Almost every country is facing the approaches of the free market and capital market.
Therefore it is true to say that capitalism exists everywhere in the world and the future also belongs to the capitalistic approach because the main purpose of the capitalist approach to earn a profit that is beneficial for the Government and for the investors.