Which is best for the people, and which is best for profit?
Which has been most successful now and in the past?
None at all? Haha.
The best for people is a small community that all works together. The best for profit is free-market capitalism.
If everyone just worked together in small communities, we would still have a life expectancy of 40, rampant disease, famine... it would not be pretty like you seem to think.
A global system would have the potential to be the best, as that would take full advantage of comparative advantage. If we were able to do that over the entire planet, things would skyrocket.
The one that best suits the people using it. There is no single best system.
In a system where economic actions are unfettered, profit relies on society's preferences, and therefore signify that people are being served. Proper free-market capitalism is good for people and profits.
JaxsonRaine, you bring up a good point. I think however that people would cling too heavily to their own culture and language, and hence a true global community would be impossible to achieve. That's not to mention the problems regarding distribution of wealth and equality?
Would you agree?
I think capitalism want people to have more insatiable urge to buy things. They can also sell anything, goods and talent, the more rare and special the "commodity" is the higher the price.
I really don't know which one will really work somewhere in between capitalism and socialism - mix perhaps.
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