Which is the best economic system?

Question

capitalism, communism or socialism???

Answer 1

the best economic system

Answer 2

First of all communism and socialism are two different name of same economic  system. In capitalism and socialism, Capitalism is the best economic system becuase it promotes competition in the economy due to which the standard of goods improve and most of the time we get good prices as well.

Answer 3

Islam is the best economic system

Answer 4

Capitalism is the best economic system.  It has its faults, I won't deny that and some of its faults include wage disparities, market failures, and times of busts.  But it is the most efficient system of all.  It encourages competition and growth.  It also goes for efficiency.  In a capitalist system, there is much economic growth, cheaper prices, and more profit.  There are things that need to be worked with, but in general capitalism is the best system and has helped nations such as the US, Japan, and China (its not as capitalist as US, but it has capitalist policies now...well More capitalist than past) become strong.

Communism and socialism do not work.  Usually the governments that use them are dictatorships (Cuba, etc). Economically they have not been effective.  With the state controlling much of the economy, there isn't much growth.  Competition b/w businesses stimulate growth and profit.  With a state running economies, there isn't much growth and not much profit either.  Sure, some of them as people argue, have better health coverage and Cuba has high literacy rates. I'll admit that.  But I think more people in their nations are poor.  Cuba has high amounts of poverty and Venezuela is still struggling with much poverty as well.  Some will argue again and say, "You can't trust business persons with the economy.  They just care about profit and making money." Well yes, they do care about profit.  But what makes a communist or any government leader any less greedy?  What will make them run things more efficiently?

Look at the Soviet Union.... they spent too much of their money on weapons and inefficient products.  Their economy went down quite a bit and they had many economic troubles.  They did not have much growth either.

On balance and to be fair, a good economic system requires a mixture of different ideologies.  However, a more, leaning Capitalist system works best.  Capitalist ideas work more efficiently than Communist and Socialist ones.  But there has to be some regulation (and usage of government policies) to ensure that a capitalist system doesn't go out of control.  It just needs to have a balance with more leaning to Capitalism.

Just my thoughts.  No system is perfect, but I favor Capitalism the most.

Answer 5

first lemme clarify socialism n communism r diferent in sense we use it, i never found any difference else where

what i mean is india or any othert nation u might b thinking about is  not socialist as the communists think about the term but just that it wants to ensure growth with distributive justice,

o.k. now tell me with possible exeption of CUBA & some sub-saharan regions which mordern day economy is communist?

russia, china, germany?

see a system can not be bad per se, only it's context

it is interesting that some countries went close to communism in centralised system of planning but that they were not at all politically alligned or economically restrictiv eas communism is........

all this is on the organisation of social productive forces(labour)vs. social factor of production.................

so now u get that almost all nations are capitalist which give value to individual choice let them choose what is best for them and reach highest level of satifaction, but know there must be a set of necesary condns... to be satisfied 4 this in autocracy however if givernance is good and strong and society accepts one it is best.......................................

so it is best on application, why russia succeede on industrialisation, while india failed except 4 geographic concentration and loopholes and which loopholes were responsible are still being debated........................

government intervention does not necessary mean stiffling and it may b to promote trade or the weak sections which may involve crowding in implying mutual trust witjh pvt. sector, such is indian politics and so there is great room and need 4 welfare activities inthis capitalist model!