Quote from: Obiene12 on August 20, 2025, 01:54:20 AM

Can any economy survive without capitalism ?be it UK,USA Germany and Africa etc. To me capitalism is the best form of Economy . Does the developed nations started with capitalism or socialism

It's a good question and I think the answer is no, but that comes with a caveat. Capitalism needs to work for the majority and we see certain places like America which are starting to struggle because it has been setup in the wrong way. For all it's advantages raw capitalism does need some sensible and forever evolving regulation, if it's doesn't have that then corporation's will wreak havoc at the expense of the public. Corporations are legally bound to do the minimum possible (because it is usually the cheapest route) to meet legal requirements in order to maximize profits. They are actively incentivized to lobby, aka bribe, politicians to weaken laws even further if it increases their profit margins, even if that is detrimental to society as a whole. Well regulated capitalism should be the ultimate aim for every country.

It's a good question and I think the answer is no, but that comes with a caveat. Capitalism needs to work for the majority and we see certain places like America which are starting to struggle because it has been setup in the wrong way. For all it's advantages raw capitalism does need some sensible and forever evolving regulation, if it's doesn't have that then corporation's will wreak havoc at the expense of the public. Corporations are legally bound to do the minimum possible (because it is usually the cheapest route) to meet legal requirements in order to maximize profits. They are actively incentivized to lobby, aka bribe, politicians to weaken laws even further if it increases their profit margins, even if that is detrimental to society as a whole. Well regulated capitalism should be the ultimate aim for every country.