Which is more capitalist: the First World or the Third World?

Question

I'd argue that truer capitalism exists in many Third World countries which have little or no economic regulation.

Answer 1

You'd argue the wrong point. Capitalism is not about regulation; it is first and foremost about protecting private property rights. In a capitalist system, property cannot be taken away from the rightful owner without a fair compensation, disputes are resolved in neutral courts, and courts' decisions are properly enforced. Many third-world countries, in contrast, have governments that confiscate at will (and government employees that rob and blackmail private citizens who are too scared to complain), retroactively change tax laws, and disobey judicial decisions or simply apply pressure to judges to obtain favorable disposition.

Answer 2

The First World would be a truer model of economic Capitalism.

The Third World would be a model of elite Capitalism.

Capitalism works well for the First World. Creating jobs, driving the economy, pushing technology....

Capitalism has failed in the Third World. Creating a greater gap between rich and poor. Creates conflict between the week and the powerful, allows for people like Chavez and Castro to take power. Takes advantage of exporting to the First World markets by neglecting domestic markets. Creates and uneven distribution of wealth.

Just my opinion.

Answer 3

By definition third world nations have less capitol.

They also depend much more on barter.

True that there are many third world nations that have strong capitalist markets but on the whole when they have any real resource, it is the first world reaping all of the capitol.