You know down south that country that is in turmoil.... Yes the United States. Why, they are having the exact same debate, capitalism and socialism. Just in a different form. The problem with capatalism is greed. Only rained in by the government. When the government is corrupt and senators and congressmen take bribes and are too busy making it them or us issues, the rest of their population suffers. The greed in the US, poisoned land and bodies of water. Cutting off budget to the Environmental agency, and opening up land for development makes it easier for capitalism to pollute. The rich simply move away after the destruction of the land.
Socialism is a dirty word, for business people. It means extra taxes, and it goes for people who don't work for it. Socialism also makes employers pay more for the worker than the owner wants (this is why US business do their manufacturing in China and Tiwan and Mexica- cheaper labour). Why there is a middle class today. The rise of union in the early 1900s saw to a stabilzation of the middle class and increase due the sharing of the wealth created by manufacturing. And Why there is also health care, unemployment benifits, welfare, and programs for job training etc. Capitalist govenments would have none of that, it cost them profit.
Right now Russia is a country run by oligarths, rich men making profits from everything they control. Its not communism, its a diatatorship run by rich guys....
Canada is a socalist government. So are most of the European countries. They have health care, welfare, social programs, pension plans etc. Yes the economy is capitalist, but money earned goes to the government to pay for social reforms and programs to keep the populace stable and relatively happy, so there are no revolutions and civil uprisings.
If it was a system that worked, then why is Spain and Italy and Greece failing in the European Union, spending too much money on social system, corruption etc. Europe has gone socialist only after WW2 , that was 1945. Canada didn't get universal health care until the late 50s.
It is said rich people get there by working off the backs of their employees. Mostly its because they hold monopolies in the form of patents.
"The problem with capatalism is greed."
This is the problem with any government and to apply this to capitalism is disingenuous.
"Canada is a socalist government. So are most of the European countries. They have health care, welfare, social programs, pension plans etc. Yes the economy is capitalist, but money earned goes to the government to pay for social reforms and programs to keep the populace stable and relatively happy, so there are no revolutions and civil uprisings."
Your definition covers the US as well since as of 2011, the US spent more on welfare related services than any other single line item in the national budget, surpassing even defense spending at over 1 trillion dollars.
https://www.budget.senate.gov/imo/m...ng The Largest Item In The Federal Budget.pdf
"If it was a system that worked, then why is Spain and Italy and Greece failing in the European Union, spending too much money on social system, corruption etc. "
It's not because of their social care systems. It's because they borrowed too much money early after entering the EU and the 2008 economic crisis nailed them. They've been plagued with high unemployment, a "brain drain" where there was a mass exodus of production talent to other more prosperous countries and their GDP plummeted, among other things. Particularly hard hit were Portugal, Italy, Greece and Spain, aka "PIGS".






