Capitalist Countries 2020

Capitalism is an ideology where the means of production is controlled by private business. This means that individual citizens run the economy without government interfering in production or pricing. Instead, pricing are set by the free market. This means that value is based on supply and demand and the relationship between producers and consumers.

This ideology is very different from socialism and communism, whereas the government takes control of the economy. The United States is one of the countries that has a capitalist economy, which many citizens see as an important part of democracy and building the “American Dream.” However, despite being one of the most well-known capitalist countries, the United States is not even in the top 10 list of most capitalistic countries, according to reports from The Heritage Foundation and Global Finance Magazine.

There are benefits and drawbacks to a capitalist economy. As far as the positive aspects, capitalism often drives the best products at the best prices. With capitalism, economic growth and innovation are also benefits. As far as drawbacks, capitalism has a few. One of the biggest drawbacks is that it does not provide for anyone that does not have skills. It also does not promote equality of opportunity. In short, some people may not get the opportunities that others receive.

According to the 2017 Economic Freedom of the World Index, the top 10 capitalist countries (ranked from highest score to lowest):

  1. Hong Kong
  2. Singapore
  3. New Zealand
  4. Switzerland
  5. Australia
  6. Ireland
  7. Estonia
  8. United Kingdom
  9. Canada
  10. United Arab Emirates

Is America capitalist? The United States is referred to as a “mixed economy,” meaning that it has characteristics of both capitalism and socialism. The United States is a capitalist society where means of production are based on private ownership and operation for profit. The United States is not a totally capitalist society, however, because the economy has regulations, taxation, and some subsidization. The US government has always had some role in the economy, but some periods of time the economy was closer to a true free market. The government has at least some partial control over education, roads, health care, and postal deliveries, as well as provides subsidies to oil companies, financial companies, and agricultural producers. Additionally, private businesses are required to register with government agencies and certain types of businesses need government-approved licenses.

Is Russia capitalist? Some state that Russia is a state capitalist society and others state that Russia is a “mixed market” economy. State capitalism is an economic system in which the state undertakes for-profit economic activity and the means of production are state-owned enterprises. Approximately 55% of the economy is controlled by the state in Russia and 20 million workers are directly employed by the government (28% of the workforce). Additionally, the existence of oligarchs in Russia makes the country non-capitalist.

Is Japan capitalist? Japan is a capitalist country in the form of collective capitalism. In Japan’s collective capitalist system, workers are usually compensated with job security, pensions, and social protection by their employers in return for loyalty and hard work. Collective capitalism focuses on long-term relationships, such as companies owning shares in other companies, resulting in cooperation between companies since they have an interest in each other’s performances.

No country in the world has ever achieved a totally capitalist, “laissez-faire,” or free-market economy. Mostly all capitalist economies are mixed.

Capitalist Countries 2020

Country Economic Freedom Rank Economic Freedom Score Population 2020
Hong Kong190.27,496,981
Singapore289.45,850,342
New Zealand384.44,822,233
Switzerland481.98,654,622
Australia580.925,499,884
Ireland680.54,937,786
United Kingdom778.967,886,011
Canada877.737,742,154
United Arab Emirates977.69,890,402
Taiwan1077.323,816,775
Iceland1177.1341,243
United States1276.8331,002,651
Netherlands1376.817,134,872
Denmark1476.75,792,202
Estonia1576.61,326,535
Georgia1675.93,989,167
Luxembourg1775.9625,978
Chile1875.419,116,201
Sweden1975.210,099,265
Finland2074.95,540,720
Lithuania2174.22,722,289
Malaysia227432,365,999
Czech Republic2373.710,708,981
Germany2473.583,783,942
Mauritius25731,271,768
Norway26735,421,241
Israel2772.88,655,535
Qatar2872.62,881,053
South Korea2972.351,269,185
Japan3072.1126,476,461
Austria31729,006,398
Rwanda3271.112,952,218
Macau3471649,335
Latvia3570.41,886,198
Botswana3669.52,351,627
Bulgaria37696,948,445
Saint Lucia3868.7183,627
Jamaica3968.62,961,167
Uruguay4068.63,473,730
Malta4168.6441,543
Romania4268.619,237,691
Thailand4368.369,799,978
Cyprus4468.11,207,359
Peru4567.832,971,854
Poland4667.837,846,611
Armenia4767.72,963,243
Belgium4867.311,589,623
Colombia4967.350,882,891
Panama5067.24,314,767
Albania5266.52,877,797
Jordan5366.510,203,134
Bahrain5466.41,701,575
Saint Vincent And The Grenadines5565.8110,940
Indonesia5665.8273,523,615
Spain5765.746,754,778
Slovenia5865.52,078,938
Kazakhstan5965.418,776,707
Azerbaijan6065.410,139,177
Costa Rica6165.35,094,118
Portugal6265.310,196,709
Brunei6365.1437,479
Hungary64659,660,351
Slovakia65655,459,642
Mexico6664.7128,932,753
Barbados6764.7287,375
Turkey6864.684,339,067
Serbia6963.98,737,371
Philippines7063.8109,581,078
France7163.865,273,511
Dominica7263.671,986
Cape Verde7363.1555,987
Bhutan7462.9771,608
Morocco7562.936,910,560
Guatemala7762.617,915,568
Ivory Coast7862.426,378,274
Kyrgyzstan7962.36,524,195
Italy8062.260,461,826
Fiji8162.2896,445
Samoa8262.2198,414
Bosnia And Herzegovina8361.93,280,819
El Salvador8461.86,486,205
Paraguay8561.87,132,538
Croatia8661.44,105,267
Seychelles8761.498,347
Oman88615,106,626
Dominican Republic896110,847,910
Kuwait9060.84,270,571
Saudi Arabia9160.734,813,871
Montenegro9260.5628,066
Honduras9360.29,904,607
Tanzania9460.259,734,218
Uganda9559.745,741,007
Burkina Faso9659.420,903,273
Moldova9759.14,033,963
Russia9858.9145,934,462
Namibia9958.72,540,905
China10058.41,439,323,776
Papua New Guinea10158.48,947,024
South Africa10258.359,308,690
Mali10358.120,250,833
Belarus10457.99,449,323
Cambodia10557.816,718,965
Greece10657.710,423,054
Nicaragua10757.76,624,554
Tonga10857.7105,695
Ghana10957.531,072,940
Laos11057.47,275,560
Nigeria11157.3206,139,589
Trinidad And Tobago112571,399,488
Guyana11356.8786,552
Madagascar11456.627,691,018
Sri Lanka11556.421,413,249
Vanuatu11656.4307,145
Senegal11756.316,743,927
Gabon11856.32,225,734
Mauritania11955.74,649,658
Guinea12055.713,132,795
Bangladesh12155.6164,689,383
Tajikistan12255.69,537,645
Belize12355.4397,628
Comoros12455.4869,601
Tunisia12555.411,818,619
Mongolia12655.43,278,290
Benin12755.312,123,200
Vietnam12855.397,338,579
India12955.21,380,004,385
Kenya13055.153,771,296
Pakistan13155220,892,340
Solomon Islands13354.6686,884
Sao Tome And Principe13454219,159
Guinea Bissau135541,968,001
Nepal13653.829,136,808
Ethiopia13753.6114,963,588
Zambia13853.618,383,955
Myanmar13953.654,409,800
Uzbekistan14053.333,469,203
Maldives14153.2540,544
Lesotho14253.12,142,249
Haiti14352.711,402,528
Egypt14452.5102,334,404
Cameroon14552.426,545,863
Gambia14652.42,416,668
Ukraine14752.343,733,762
Argentina14852.245,195,774
Micronesia14951.9115,023
Brazil15051.9212,559,417
Niger15151.624,206,644
Afghanistan15251.538,928,346
Malawi15351.419,129,952
Lebanon15451.16,825,445
Iran15551.183,992,949
Angola15650.632,866,272
Dr Congo15750.389,561,403
Togo15850.38,278,724
Chad15949.916,425,864
Liberia16049.75,057,681
Central African Republic16149.14,829,767
Burundi16248.911,890,784
Mozambique16348.631,255,435
Turkmenistan16448.46,031,200
Suriname16548.1586,632
Sudan16647.743,849,260
Sierra Leone16747.57,976,983
Kiribati16847.3119,449
Djibouti16947.1988,000
Ecuador17046.917,643,054
Algeria17146.243,851,044
Bolivia17342.311,673,021
Equatorial Guinea174411,402,985
Zimbabwe17540.414,862,924
Republic Of The Congo17639.75,518,087
Eritrea17738.93,546,421
Cuba17827.811,326,616
Venezuela17925.928,435,940
North Korea1805.925,778,816