Capitalist Countries 2021

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Capitalism is an ideology where the means of production is controlled by private business. This means that individual citizens run the economy without the government interfering in production or pricing. Instead, pricing is 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 with a capitalist economy, which many citizens see as an essential 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 The Heritage Foundation and Global Finance Magazine reports.

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 most significant disadvantages 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 2020 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. United States
  7. Mauritius
  8. Georgia
  9. Canada
  10. Ireland

Is America capitalist? The United States is referred to as a mixed market economy, meaning that it has characteristics of 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 U.S. government has always had some role in the economy, but the economy was closer to a truly free market during some periods. The government has at least some partial control over education, roads, health care, and postal deliveries and provides subsidies to oil companies, financial companies, and agricultural producers. Additionally, private businesses must register with government agencies, and certain types of companies 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. The state controls approximately 55% of Russia's economy, and the government directly employs 20 million workers (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 are interested in each other's performances.

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

Capitalist Countries 2021

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Capitalist Countries 2021

Rank Country Economic Freedom Score 2021 Population
1Hong Kong8.947,552,810
2Singapore8.655,896,686
3New Zealand8.534,860,643
4Switzerland8.438,715,494
5Australia8.2325,788,215
6United States8.22332,915,073
7Mauritius8.211,273,433
8Georgia8.183,979,765
9Canada8.1738,067,903
10Ireland8.134,982,907
12Lithuania8.12,689,862
11Denmark8.15,813,298
13United Kingdom8.0868,207,116
15Estonia7.961,325,185
14Chile7.9619,212,361
17Malta7.94442,784
16Taiwan7.9423,855,010
18Armenia7.922,968,127
19Latvia7.891,866,942
20Japan7.88126,050,804
21Germany7.8583,900,473
22Cyprus7.841,215,584
23Romania7.8319,127,774
24Netherlands7.8217,173,099
25Czech Republic7.8110,724,555
28Albania7.82,872,933
27Panama7.84,381,579
26Austria7.89,043,070
30Finland7.765,548,360
29Peru7.7633,359,418
31Luxembourg7.75634,814
32Bulgaria7.746,896,663
33Spain7.7346,745,216
34Iceland7.71343,353
35Guatemala7.718,249,860
37Jamaica7.692,973,463
36South Korea7.6951,305,186
38Slovakia7.635,460,721
41Costa Rica7.625,139,052
40Israel7.628,789,774
39Jordan7.6210,269,021
44Botswana7.62,397,241
43Norway7.65,465,630
42Portugal7.610,167,925
47Sweden7.5810,160,169
46Dominican Republic7.5810,953,703
45Malaysia7.5832,776,194
48Belgium7.5611,632,326
49Uganda7.5547,123,531
50Italy7.5160,367,477
51Seychelles7.4998,908
52Hungary7.449,634,164
54Mongolia7.433,329,289
53Philippines7.43111,046,913
55El Salvador7.416,518,499
56France7.465,426,179
58Rwanda7.3913,276,513
57Indonesia7.39276,361,783
59Croatia7.364,081,651
60Slovenia7.332,078,724
62Honduras7.2810,062,991
61Cambodia7.2816,946,438
63Trinidad And Tobago7.261,403,375
64Uruguay7.253,485,151
65Paraguay7.237,219,638
66Mexico7.21130,262,216
67Zambia7.1918,920,651
68Bahrain7.161,748,296
69North Macedonia7.152,082,658
70Kazakhstan7.1218,994,962
73Nicaragua7.056,702,385
72Serbia7.058,697,550
71United Arab Emirates7.059,991,089
74Poland7.0437,797,005
76Moldova6.994,024,019
75Kyrgyzstan6.996,628,356
77Montenegro6.94628,053
78Nigeria6.93211,400,708
81Qatar6.882,930,528
80Lebanon6.886,769,146
79Sri Lanka6.8821,497,310
82Kenya6.8454,985,698
83Oman6.795,223,375
84Thailand6.7569,950,850
85Russia6.74145,912,025
87South Africa6.7360,041,994
86Tanzania6.7361,498,437
89Greece6.7110,370,744
88Colombia6.7151,265,844
90Morocco6.737,344,795
91Guyana6.68790,326
93Lesotho6.652,159,079
92Ghana6.6531,732,129
94Bhutan6.63779,898
96Laos6.627,379,358
95Turkey6.6285,042,738
98Belize6.6404,914
97Kuwait6.64,328,550
99Haiti6.5811,541,685
101Brazil6.56213,993,437
100India6.561,393,409,038
102Namibia6.522,587,344
103Fiji6.5902,906
104Nepal6.4829,674,920
105Ecuador6.4617,888,475
106Papua New Guinea6.399,119,010
108Suriname6.37591,800
107Azerbaijan6.3710,223,342
109Belarus6.359,442,862
110Saudi Arabia6.3135,340,683
111Bolivia6.311,832,940
112Timor Leste6.291,343,873
113Liberia6.285,180,203
115Eswatini6.271,172,362
114Senegal6.2717,196,301
116Togo6.258,478,250
118Barbados6.22287,711
117Mauritania6.224,775,119
119China6.211,444,216,107
122Benin6.212,451,040
121Madagascar6.228,427,328
120Vietnam6.298,168,833
124Tunisia6.0711,935,766
123Pakistan6.07225,199,937
125Ukraine6.0643,466,819
126Tajikistan6.059,749,627
128Burundi5.9412,255,433
127Mozambique5.9432,163,047
129Mali5.9320,855,735
130Sierra Leone5.878,141,343
131Gabon5.862,278,825
133Burkina Faso5.8521,497,096
132Cameroon5.8527,224,265
134Myanmar5.8154,806,012
135Malawi5.7919,647,684
136Argentina5.7845,605,826
137Chad5.7116,914,985
139Iraq5.6141,179,350
138Ethiopia5.61117,876,227
140Guinea5.5713,497,244
141Yemen5.5130,490,640
142Guinea Bissau5.462,015,494
143Syria5.4518,275,702
144Egypt5.38104,258,327
145Central African Republic5.274,919,981
146Zimbabwe5.1215,092,171
147Algeria4.9744,616,624
148Iran4.885,028,759
149Angola4.7533,933,610
150Libya4.726,958,532
151Sudan4.2144,909,353
152Venezuela3.3428,704,954

Capitalist Countries 2021