Question

the nature of capitalism. These days, it seems there are a number of different approaches to capitalism. The USA has an incredibly capitalist society in which even basic services like health care remain in control of the private sector. Here in Canada we have a more liberal system of capitalism where capitalism is the dominating system, but we have things like health care under public control. China on the other hand, has a communist system with elements of capitalism blended in. Im curious, which of these economical approaches do you believe provide the greatest good for their people?

Answer 1

In my opinion, it’s the Canadian capitalism that would bring more benefit for the people. Pure capitalism is all about privatisation and it would only help the power elites because they would own the wealth and power. This would mean that most of the people would be forced to live in poverty due to the expensive society which would focus only on profit and business. Government would have too little or no control over the private companies except for the labor laws. In the Chinese communist or socialist system, government would control all walks of life and try to control the businesses which would mean that people would live under constant fear and even the media wouldn’t have any freedom. The Canadian system on the other hand would be very beneficial because while the government owns the necessary agencies such as, healthcare, education, defence etc. while opening businesses for the private would help even the poor people in the society to get access to the most important needs. This would reduce the inequality in the society to a great extent.

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