Quote from: Gozie51 on April 30, 2022, 09:50:44 PM

Quote from: bocyaj on April 23, 2022, 09:06:40 PM

Socialist economy is,government will treat all the people equal and give food to all.If they are contributing the government or not.

Yes socialist system is suppose to be that way and take care of the citizen but I don't think things are now the way we read them back in time in the economic text books. I believe that there are now changes to what it was then. Major example of socialist countries are China, Cuba, Lao, Vietnam and take the example of China in the economic narratives is becoming a capitalist country, so much involved in trade and business including development and this is not really what Karl Max described as a socialist type of country in his theory.

In China, there are many rich businessmen, and also many of them are the richest people in the world. In my opinion, it is no longer a purely socialist country, because it has a capitalist element. where in this way the country will develop rapidly in terms of the economy, because the people are given the freedom to develop their business even though later there will be taxes that will return to all the people