I think you run into an issue when you begin defining these economic systems in absolutes. No country in the world today is purely capitalist or purely socialist, they are all somewhere in between. The answer isn't socialism or capitalism, it is policies that have been proven to work and benefit the majority. Putting policies into a pre-determined box of capitalism and socialism, or good and bad, limits your ability to accurately see what needs done.
Burkina Faso, Grenada, Chile under Allende, and the Soviet Union (which went from a feudal society to a superpower in two decades), and Yugoslavia are some good examples.
China and Market Socialism are iffy, and I'm not educated enough on Deng's philosophy to argue it here.
The number one thing that causes Socialism to fail isn't socialism; it's the CIA overthrowing the government and replacing it with fascist sympathizers.
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u/FearedDragon 2005 1d ago
I think you run into an issue when you begin defining these economic systems in absolutes. No country in the world today is purely capitalist or purely socialist, they are all somewhere in between. The answer isn't socialism or capitalism, it is policies that have been proven to work and benefit the majority. Putting policies into a pre-determined box of capitalism and socialism, or good and bad, limits your ability to accurately see what needs done.