Which economic system is more beneficial for humanity ?

  1. Khawaja Iqbal profile image71
    Khawaja Iqbalposted 19 months ago

    Which economic system is more beneficial for humanity ?


  2. tamarawilhite profile image91
    tamarawilhiteposted 19 months ago

    Only capitalism led to the industrial revolution that has raised most of humanity out of the dollar a day / bare subsistence level that defined humanity for all of its history, the rare kings and nobles excepted.
    Only capitalism is bringing power, telephone services, mobile banking and other opportunities to the bottom billions that can lift them to a higher standard of living. Even Bono has changed from calling for charity to harnessing business to deliver what people want and need, per a recent TED talk.
    Dumping free things in communities displaces local producers, making them dependent on charity, while charity doesn't provide the continuous flow of goods and services people need. Like the free shoe charities that drop off what Westerners make but not what locals want, and it isn't a reliable source at that, but it does put the local shoemaker out of business. Or food aid from the West that floods local markets, instead of buying food from surrounding areas and trucking it in, so local farmers go out of business and become dependent on charity themselves.