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this post was submitted on 11 Jun 2024
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When I say pure capitalism, yes, I'm referring to laissez faire capitalism.
I can't think of any countries that currently have that, and I don't think we should want that.
Socialism is likely not the best term here, but when I'm referring to it economically I mean in the sense that the government has ownership of some businesses and is regulating other businesses as opposed to what would happen with laissez-faire capitalism.
Perhaps it is better to say that the U.S. is a mix between Capitalism (a market economy) and Communism (a command-based economy) as this article explains? https://www.investopedia.com/terms/e/economy.asp
That has not been my experience when visiting/living in other countries, but I am curious if you have some data to back this statement up?
Although I do agree that we have a problem with wealth disparity and income inequality.
I think we should look to other countries that have much higher levels of happiness (Such as Sweden) compared to the U.S. and try to imitate what they are doing.
Even in the case of looking to economies like what Sweden has, it is still a mixed economy. So completely doing away with capitalism is not something we should be striving for.
There is no aspect of the US that is in any sense communist. Communism refers very specifically to a style of government which directly owns and controls the means of production across all forms of industry. This style of government is controlled by the proletariat. That is not the case for any industry in the US. The link you provided is propaganda not based on any actual communist beliefs. Communism is not a "command based" anything, it is a philosophy with regards to the distribution of the means of production and how the fruits of the working class's labor should be shared.
https://worldpopulationreview.com/country-rankings/gini-coefficient-by-country
The US gini coefficient is 39.8 as of 2021. Making it one of the worst countries in the world for income inequality. There are plenty of areas in the southern states especially where entire towns are below the poverty line, some very significantly below it.
Well the U.S. isn't entirely capitalist either.
On one extreme you have a completely free market economy. On the other extreme you have an economy that's completely controlled by the government (such as Communism).
A pure free market economy doesn't really exist anywhere among all the countries, what we have instead are a lot of countries that try to find the right balance between letting the market control itself and having the government control the market.
So call it whatever you want, but the US does have a mixed economy when placed on that scale.
I don't know how you can say it's one of the worst when it's not even in the bottom third in that list of 162 countries.
According to that source, the worst country is South Africa with a Gini coefficient of 63.0.
The best country is Norway with a Gini Coefficient of 22.7.
The US. Ranks 57th with a Gini coefficient of 39.8.
If anything that places it in the middle rather than "one of the worst".
Considering all the other listed countries are classified as developing nations, no yeah it's one of the worst in the world lol. It's worth it for you to read up on how the gini coefficient is calculated.
Also, it is ranked 57th when sorted worst to best. It is sorted at 120th from best to worst. Worse than 119 other nations.
And no, you're again misusing the term communism. Communism isn't a scale it refers specifically to a state in which the means of production are shared collectively amongst the working class. You've invented a thing and then are using your own invention to sort terms that have actual meanings not related to your invented scale
America is also not a mixed economy, what are you on about? What industry is public in the US? Most of the states don't even have public power services. Essentially, none have public medical services.
There are many sources online that can explain the distinction for you. Check what you're reading and from where, as America is incredibly biased against socialism and there are entire corporations dedicated to spreading anti-socialist propaganda.
Yes, 57th when sorted from worst to best, I never said otherwise. And your numbers are a little off when sorting the other way around. There are only 162 countries with rankings in that list, so flipping it around puts the U.S. at 105th (behind 104 other nations).
Besides, we're looking at the Gini Coefficient which (with the countries on this list) has a range of ~23 to ~63, and a score of ~40 is right in the middle of that. In no way is the U.S. at the top of that list, but I still don't see how you can consider it to be "one of the worst countries in the world for income inequality".
I mean, I'm trying to explain in other terms so that we can understand each other better?
And if I understand this right, you're saying that it doesn't make sense to create a scale where:
I never said it was a scale. I just placed it at one end of the scale. The scale being "how much control a government has over the market."
On that scale, the U.S. is mostly capitalist, I have never said otherwise.