Ho
Capitalism vs socialism
Are you more towards capitalism or socialism or both?
There is always a conflict of public which is in between state and society. State regulates accessibility for certain purposes where society is emphasizing on free accessibility and people's right. Capitalism are mostly practiced in developed and developing countries. Why? Governments need to take control and grow economic system through production and distribution which are corporately owned and funded by profits.
Trying to explain the idea of strong capitalism on a broader scale, David Harvey had argued that the US growth during the period after 2000 to 2008 was entirely driven by consumerism which was connected to high-risk of loss activities in the housing market. When that all crashed in 2008, that actually caused some very serious problems in the financial system but also problems in consumption because there was no longer the consumption there. Due to the collapse of consumption inside the US, that greatly affected the export industries of China. It was estimated in 2009 that China had lost 30 million jobs in the export sector. But there was a survey at the end of the year saying that the net job losses in China had was only 3 million jobs. Somehow in 2009 they had actually created 27 million jobs. They build new cities to achieve a re-balancing of the economy. China had made unthinkable approach to build a ‘Ghost city’ with no one living in them. The urbanization project in China was indeed a huge boost to the global economy because China has consumed half of the world’s cement and steel supply since 2008. That is so crazy! That continued with the property boom in China that the urbanization growth will lead to a crash happen similar to collapse of consumption happened in the US. So we are seeing a repeat of what happened in the US, and then in China, and the question is what happens when the China property boom crashes? Which is the next countries that will be affected? But in fact, china economy has not totally shifted to capitalism yet, socialism is still official. Thus, economy growth in China somehow is more relaxed than life in capitalist countries like America.
However, there are also successful socialist countries with stable economy growth such as Denmark with has highest taxation in the world, Finland with world's best education system and free tuition fees, Canada with free health and extensive medical care. These countries definitely have a lot of aspects in common which emphasize on equality, liberty, fraternity and democracy, demonstrating important value in society.
So, what is the real problem to be discussed here?
“The last capitalist we hang shall be the one who sold us the rope.”
― Karl Marx
Here Marx gives us an idea that we have to go to the root of the problem, and the root of the problem here is capitalism. However, socialism is also a product of capitalism, trying to solve problem arise out from capitalist economy growth system. Which movement is better? or practicing both will be the critical success factor for economy growth in any countries?
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