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+--- Thread: how capitalism affect the poorer countries or how do the free market economics affect poorer nations? (/thread-124045.html)
how capitalism affect the poorer countries or how do the free market economics affect poorer nations? - Himalay - 04-02-2014 05:20 AM
definition of free market economics,link between free market & capitalism
- basudebsenseknomix - 04-02-2014 05:35 AM
Capitalism and freemarkets elsewhere do not have any effect
poor nations and poor countries. Virtually no poor nation and poor country adopts capitalism and free market system because before the capitalist can make a successful businesess in poor countries and natiions, crooked military rulers and/ or crooked politicians take advantage of the ignorance and illiteracy of their countrymen to impose their oppressive rules in garb of socialistic republics or people' democracy which are essentially govt. dictated largely command and control economic and political regimes - in thsese countries capitalists are required to be loyal to the political dictator / political muscle men leaders and lick theoir feet and they and the large public sector companies dominate the markets.
How ever, if poor nations did really enjoy true market mechansim and poor countries tru capitalism, they would have enjoyed the same benefits as the poor people in advanced capitalistic free market economies and therefore enjoyed much better economic and social life than they are enjoying now ion poor countries. If capitalism and free market within capitalist free market economies live better lives than 90- 95% of the people in poor countries/ poor nations, there is no reason why these poor people would not have benefited by adopting capitalism and free market.
The effect of capitalism and free market is higher productivity, lower costs of [production, better standards of living, better civic amenitiesw, faster economic growth, better technologies, greater innovation, higher literacy and education levels, lower incidence of insurgency, protection of human rights, better human development index, greater social mobility, lower repression and exploitation by rentier crooked political class and frauds.
The alternatives to capitalism and free market have shown great dreams of equality and prospeity to billions of people in the World but delivered very little in terms of bebefiting the poor people and the poor nations at large - the benefits have gone to inefficient and corrupt public servants, incompetent and self-seekingpoliticians, worthless political party officials and inefficient capitalists/ traders loyal to politicians.