Debate Help: Is Capitalism the best model for the world economy?

I'm on side affirmative and I'm not sure how to tie capitalism to the WORLD ECONOMY

This is how I defined the topic:

Capitalism is an economic system where private entities own and operate the factors of production, as opposed to the government. The world economy entails the international exchange of goods and services where participants include governments, firms, and individuals.

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  • martin
    Lv 7
    8 months ago
    Favorite Answer

    Capitalism and Socialism mixed together has proven to be the best kind of economy.

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  • Oiy
    Lv 6
    8 months ago

    Socialism is dead. Capitalism is the only system in the world.(Milton Friedman). But this capitalism in this context means Hong Kong before China took over. Even the US cannot fulfill the term capitalism.

    • Yes, unfettered capitalism and pure socialism do not exist and never have; they are just theories and it is impossible to put them to practice. 

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  • Zirp
    Lv 7
    8 months ago

    No. Capitalism "allows" millions to starve while there's food enough for all.

    I disagree with the "as opposed to the government"-part in your definition.

    Most Communists and Socialists advocate that the means of production be owned by the workers/people or their local collectives.

    Capitalism also requires people and companies to compete on a market, and that wages and prices are determined by supply-and-demand

  • 8 months ago

    All the poorest countries operate on a socialistic system. In those countries, only the ruling class enjoys life. The richest countries have a capitalistic system where many enjoy life.

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