Socialist economy and inherent corruption in socialism has led to the downfall of many nations. A nation draws its strength not from political system but from the effective political leadership and economic model. History has seen both supremacy and downfall of almost all forms of political systems but we are yet to come across in which any political system with capitalism has failed. In fact in capitalist economy, it's global aspirations of capitalism that demands strong armed forces and thus foreign relations further paves the way for supremacy through economic ties. As a result, population reaps the benefits.
Although many may argue that democracy is the best form of political system; agreeable but we have rarely seen a nation growing if political system is democracy but has not opted for capitalist economy. China is not a democracy but has set off in a right direction and on other hand Soviet union, a communist state, collapsed not because of communism but because of non-capitalist economy. India didn't grow for 40 years after independence despite being a democracy; presently India's economic model continue to be partially socialist and partially capitalist. America, a democracy, continues its strides due to its capitalist economy. The strength of a nation is dictated by economic model and not by political system. Democracies in which effective governance was and is absent are largely those which preferred socialist model and hence have doomed or bound to be doomed in near future.
Most of the democracies started with socialist economies, thinking it would resolve the governing issues but moving away from socialism has been the trend for many democracies. Socialism only corrupted the political systems; be it democratic, communist , or aristocratic. Although many states continue to call themselves socialist irrespective of economic system state they follow, capitalism have become a core element of many democratic, communist , or authoritarian countries who earlier wanted themselves to be identified with socialist principles. Anyway, capitalism continue to attract criticism but in reality has resolved many governance issues for all political systems.
Although many may argue that democracy is the best form of political system; agreeable but we have rarely seen a nation growing if political system is democracy but has not opted for capitalist economy. China is not a democracy but has set off in a right direction and on other hand Soviet union, a communist state, collapsed not because of communism but because of non-capitalist economy. India didn't grow for 40 years after independence despite being a democracy; presently India's economic model continue to be partially socialist and partially capitalist. America, a democracy, continues its strides due to its capitalist economy. The strength of a nation is dictated by economic model and not by political system. Democracies in which effective governance was and is absent are largely those which preferred socialist model and hence have doomed or bound to be doomed in near future.
Most of the democracies started with socialist economies, thinking it would resolve the governing issues but moving away from socialism has been the trend for many democracies. Socialism only corrupted the political systems; be it democratic, communist , or aristocratic. Although many states continue to call themselves socialist irrespective of economic system state they follow, capitalism have become a core element of many democratic, communist , or authoritarian countries who earlier wanted themselves to be identified with socialist principles. Anyway, capitalism continue to attract criticism but in reality has resolved many governance issues for all political systems.
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