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

Capitalist Countries 2021