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

Rank Country Economic Freedom Score Population 2020
1Hong Kong90.27,496,981
2Singapore89.45,850,342
3New Zealand84.44,822,233
4Switzerland81.98,654,622
5Australia80.925,499,884
6Ireland80.54,937,786
7United Kingdom78.967,886,011
8Canada77.737,742,154
9United Arab Emirates77.69,890,402
10Taiwan77.323,816,775
11Iceland77.1341,243
12Netherlands76.817,134,872
13United States76.8331,002,651
14Denmark76.75,792,202
15Estonia76.61,326,535
16Luxembourg75.9625,978
17Georgia75.93,989,167
18Chile75.419,116,201
19Sweden75.210,099,265
20Finland74.95,540,720
21Lithuania74.22,722,289
22Malaysia7432,365,999
23Czech Republic73.710,708,981
24Germany73.583,783,942
25Mauritius731,271,768
26Norway735,421,241
27Israel72.88,655,535
28Qatar72.62,881,053
29South Korea72.351,269,185
30Japan72.1126,476,461
31Austria729,006,398
32Macedonia71.12,083,374
33Rwanda71.112,952,218
34Macau71649,335
35Latvia70.41,886,198
36Botswana69.52,351,627
37Bulgaria696,948,445
38Saint Lucia68.7183,627
39Malta68.6441,543
40Jamaica68.62,961,167
41Uruguay68.63,473,730
42Romania68.619,237,691
43Thailand68.369,799,978
44Cyprus68.11,207,359
45Peru67.832,971,854
46Poland67.837,846,611
47Armenia67.72,963,243
48Belgium67.311,589,623
49Colombia67.350,882,891
50Panama67.24,314,767
51Albania66.52,877,797
52Jordan66.510,203,134
53Bahrain66.41,701,575
54Saint Vincent And The Grenadines65.8110,940
55Indonesia65.8273,523,615
56Spain65.746,754,778
57Slovenia65.52,078,938
58Azerbaijan65.410,139,177
59Kazakhstan65.418,776,707
60Costa Rica65.35,094,118
61Portugal65.310,196,709
62Brunei65.1437,479
63Slovakia655,459,642
64Hungary659,660,351
65Barbados64.7287,375
66Mexico64.7128,932,753
67Turkey64.684,339,067
68Serbia63.98,737,371
69France63.865,273,511
70Philippines63.8109,581,078
71Dominica63.671,986
72Cape Verde63.1555,987
73Bahamas62.9393,244
74Bhutan62.9771,608
75Morocco62.936,910,560
76Guatemala62.617,915,568
77Ivory Coast62.426,378,274
78Kyrgyzstan62.36,524,195
79Samoa62.2198,414
80Fiji62.2896,445
81Italy62.260,461,826
82Bosnia And Herzegovina61.93,280,819
83El Salvador61.86,486,205
84Paraguay61.87,132,538
85Seychelles61.498,347
86Croatia61.44,105,267
87Oman615,106,626
88Dominican Republic6110,847,910
89Kuwait60.84,270,571
90Saudi Arabia60.734,813,871
91Montenegro60.5628,066
92Honduras60.29,904,607
93Tanzania60.259,734,218
94Uganda59.745,741,007
95Burkina Faso59.420,903,273
96Moldova59.14,033,963
97Russia58.9145,934,462
98Namibia58.72,540,905
99Papua New Guinea58.48,947,024
100China58.41,439,323,776
101South Africa58.359,308,690
102Mali58.120,250,833
103Belarus57.99,449,323
104Cambodia57.816,718,965
105Tonga57.7105,695
106Nicaragua57.76,624,554
107Greece57.710,423,054
108Ghana57.531,072,940
109Laos57.47,275,560
110Nigeria57.3206,139,589
111Trinidad And Tobago571,399,488
112Guyana56.8786,552
113Madagascar56.627,691,018
114Vanuatu56.4307,145
115Sri Lanka56.421,413,249
116Gabon56.32,225,734
117Senegal56.316,743,927
118Mauritania55.74,649,658
119Guinea55.713,132,795
120Tajikistan55.69,537,645
121Bangladesh55.6164,689,383
122Belize55.4397,628
123Comoros55.4869,601
124Mongolia55.43,278,290
125Tunisia55.411,818,619
126Benin55.312,123,200
127Vietnam55.397,338,579
128India55.21,380,004,385
129Kenya55.153,771,296
130Pakistan55220,892,340
131Swaziland54.71,160,164
132Solomon Islands54.6686,884
133Sao Tome And Principe54219,159
134Guinea Bissau541,968,001
135Nepal53.829,136,808
136Zambia53.618,383,955
137Myanmar53.654,409,800
138Ethiopia53.6114,963,588
139Uzbekistan53.333,469,203
140Maldives53.2540,544
141Lesotho53.12,142,249
142Haiti52.711,402,528
143Egypt52.5102,334,404
144Gambia52.42,416,668
145Cameroon52.426,545,863
146Ukraine52.343,733,762
147Argentina52.245,195,774
148Micronesia51.9115,023
149Brazil51.9212,559,417
150Niger51.624,206,644
151Afghanistan51.538,928,346
152Malawi51.419,129,952
153Lebanon51.16,825,445
154Iran51.183,992,949
155Angola50.632,866,272
156Togo50.38,278,724
157Dr Congo50.389,561,403
158Chad49.916,425,864
159Liberia49.75,057,681
160Central African Republic49.14,829,767
161Burundi48.911,890,784
162Mozambique48.631,255,435
163Turkmenistan48.46,031,200
164Suriname48.1586,632
165Sudan47.743,849,260
166Sierra Leone47.57,976,983
167Kiribati47.3119,449
168Djibouti47.1988,000
169Ecuador46.917,643,054
170Algeria46.243,851,044
171Timor Leste44.21,318,445
172Bolivia42.311,673,021
173Equatorial Guinea411,402,985
174Zimbabwe40.414,862,924
175Republic Of The Congo39.75,518,087
176Eritrea38.93,546,421
177Cuba27.811,326,616
178Venezuela25.928,435,940
179North Korea5.925,778,816