this post was submitted on 20 Aug 2023
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Capitalism is definitely good at some things. Specifically generating wealth. If you're a developing country you want to use capitalism because it will grow your economy as fast as possible. I think once a county has built enough wealth, they should switch to a blended system.
No, if you're a developing country, you want a planned economy. The only reason to allow private capital would be to gain access to foreign technology and to stave off imperialism until you're capable of self-defense