Post
Topic
Board Economics
Re: How Capitalism defeated socialism?
by
Gozie51
on 30/04/2022, 21:50:44 UTC
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.