Premodern or non-Marxist literature that envisioned ideal socialist societies include The Republic by Plato, Utopia by Sir Thomas More, and Social Destiny of Man by Charles Fourier. There were 81 countries with double-digit inflation rates in 1980; today that number is just 24 and only a couple (e.g., Venezuela) have what economists would call hyperinflation. Wages did not rise as fast as prices in this period, and the main beneficiaries of the inflation were the capitalists. The 10 lowest-rated countries are: Iraq, Republic of Congo, Egypt, Syria, Democratic Republic of Congo, Angola, Algeria, Sudan, Libya, and lastly Venezuela. However, the largest and . In addition, the costs of providing healthcare and other social services force socialist governments to impose high progressive taxes while increasing government spending, both of which have a chilling effect on the economy. These reports provide a quantitative measure of the degree of economic freedom for up to 162 nations. Only lightly regulates its credit markets, labor markets, and businesses more generally. Openness to global trade and investment has enabled Switzerland to become one the worlds most competitive and innovative economies. Capitalism is thriving in many parts of the world, with the list of the top 10 countries showing some surprising results. Still, here are some of the most fervently capitalist countries in the world today: Capitalism is an economic system in which private businesses own the means of production and values are set by a free market of exchange based on supply and demand. Larry Romanoff is a retired management consultant and businessman. Other nations have a mixed economy, in which a free market defines most production, but the government does own certain industries. This article includes a partial list of countries by economic freedom that shows the top 50 highest ranking countries and regions from two reports on economic freedom.. Capitalism is designed to operate in a free market. China, which is led by the Communist Party of China, ranks very low on the Economic Freedom of the World Index and stands at 124th on that list. So where can capitalism be found today? For example, Indian Railways is the nation's premier company in charge of railroad transportation.
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