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There are many economic systems. Which is the economic system in which people can live peacefully and happily?

https://en.wikipedia.org/wiki/Economic_system

If you think that economic system will help people fight with their desires and dark side then you are mistaken. Economic system won't change much.

We could have the best and ideal economy and it will be corrupted and tainted by humans.

Communism in was advertised as Utopian system, theory was great, we all know that happened.

Then we had capitalism, at first it was good but after hundred years, you can see that capitalism created tremendous inequality, and half of world's wealth now in hands of 1% of population.

What will be next?

BTW: This thread should be in Economy section IMO.

it's more about human nature than what system works better. greed is a very basic part of our nature and we always want more of everything. and guess what? infinite desires aren't compatible with finite resources. so no matter the system, there's always going to be a group who is going to be able to accumulate more resources than the rest. no economic system can solve this problem simply because we live in a planet with finite resources.

That's a loaded question - it just can't be determined definitively, without debate.

I think capitalism offers the best opportunity for success for everyone. However, capitalism thrives by way of competition and those that have less skills to offer don't do as well in that competition, therefore they don't earn as much money or rise to higher levels of economic achievement.

Socialism, by contrast, seeks to provide a more equal economic level across all contributors. This system may ensure that there is a higher minimum level of economic activity for everyone in the society but it limits the amount of growth any one person can achieve. I dislike this system because it doesn't promote competition, it actually rewards lower productivity, e.g., what incentive do I have to work harder than my neighbor if I don't benefit from it? I'm incentivized to work less than my neighbor so I'm achieving greater return on my overall effort.

I'd love to hear what others believe is "the best" economic system.

The real problem is seeing it as right or wrong, black or white. Economics is not like this. Neither is humanity. More like varying shades of gray.

My belief over time has made me a believer in capitalism, socialism, and communism. The problem is that countries tend to choose one. I believe economy should be a constant circle, always moving in that order. Capitalism to build the society and economy, socialism as the transition, communism as the distribution to create a unified equal society, then back to capitalism when the time comes to advance even further.

But we all know how humans hate structure. Man I wish I was Vulcan.

Interesting perspective you have! Suggesting that an economic cycle that drifts from capitalism to socialism to communism would be beneficial to society based on the maturity of that society's economy. I like the thought process.

I have a question for you - I wonder how easy or difficult the transition would be from communism back to capitalism. Any thoughts on this?

The society would be going form an economy controlled largely by government to one that is largely controlled privately. Would you regulate the transition or select specific industries to get privatized first? I wonder what "ripple effect" impacts might occur from having one or two industries go private while the rest remain state-controlled? Would their be social unrest from a particular generation that has grown up living in a society (and only knowing a society) where the helpful hand of government is always there, holding up the net of social and economic safety?

If only we could test these theories to see how they could be viable or not so much in real-world applications!

Capitalism is the best.

Under capitalism anyone can start a business in their garage that can go on to become the next google or apple.

The wealthy and rich fear that. They're afraid that someone younger, smarter and hungrier could start a business that could dethrone them.

This is why they push socialism.

Socialism inhibits progress, innovation and denies commoners the right to start their own business.

Socialism is a form of control. At worst, socialism is a form of slavery.

There are different socialism. One socialism built in the Soviet Union and a very different socialism built in Sweden. I'm not sure that Swedish socialism is worse than American capitalism. I think any system depends on who builds it.

People will live peacefully and happily in any system that offers them enough food, health care, a home, enough free time and so on.

This can be within capitalism but also within socialism.

It seems to me that the well-being of citizens primarily plays the role of the degree of corruption in government. Stroy does not affect. It's just a method of redistributing surplus earned money.

American economic system is the best: Rich get wealthier and poor gets more poor. Every country which opposes our system will be bombed and invaded by our military, eventually.

Lies. What civilized country America has bombed? The fact that in many countries the population is cowardly asks for help from the Americans to shift the bloody dictators that help such peoples are bad?

A system, where everyone gets, what they deserve. lol

Every country must have a different economic system because it is influenced by the culture and habits of each country, and must fit with the conditions of each country. Nothing economic system is perfect and there is definitely lack, but in my opinion a economic system better is a mixed economy. This system in which on the one side the government give freedom to people to work in economic activity, but on the other side the government intervened in the economy that aims to avoid the full control of of the class of society to economic resources.
This system has advantages:
- Aim for the benefit of society.
- The right individual / private sector clearly recognized.
- Price is easier to control.
So I think this is a good economic system to run, especially in my country. But in running any system that is important is the performance that runs to make it better so that people become peaceful and happily.

Such a system can only exist if all will start equal. In fact those who have inherited money and power can hinder the development of not only intelligent people, but entire countries. What's the justice?

It's very difficult to answer such question but, in my opinion, the best economic system right now is in Scandinavia.
They have the best social services in the world, average people have good lives and salaries, no social tensions, all men are cared for and have social assistance, health care etc.
The countries are open for business and have a stable tax policy and political stability.
Their economic system may be called social capitalism and works perfectly.

Not agree with you. In Scandinavia classical socialism. There really are better people live than in America, but should also take into account the mentality. America was built gangster capitalism and therefore, such problems with social benefits.

Any system other than socialism must do the job, provided the rulers are not corrupt and incompetent. Personally, I would prefer capitalism, with additional measures to safeguard the interests of the workers.

We're gonna bomb you next.

To be honest, I don't see much success in the bombing in Syria. I see that the Americans were frightened of the Russians. I was concerned about it. I thought America strong government. It seems it is not.

Just got this message from D.T:
"I'm just getting his coordinates *hick* will be the first one I bomb when I'm president"

My best economic system, I think is the stock market. It is about what we are exchanging of money, and what we are going to trade, and what will be our earnings. First we have to exchange or pay in on stock market, then we will have to choose what we are going to trade or what will our stocks would be, then, we have to pay out our own pay in money. There is a cycle in stock market that we cannot see, but if we think, we all know that stock market is just a cycle.

Most economic systems can be used in a negative way, which is sort of how you're seieng it in every single contry

BTC is good tho since evrything is decentralized

A universal system does not exist. There probably is a sense about the role of personality in history. I think it all depends on the personality of the leader and his will to his country prospered

Communism has always been a utopia. I do not know if it really is a good system for people.
Can not we have an ideal system that can not be destroyed by humans?

You're right. It does not matter what economic system is for most people.
People want to live happily and peacefully. People want to be able to meet their needs. They want basic needs like education and health to be met. The economic system that allows them to provide is good.

I believe that any state is a system of violence, and therefore may not be a perfect system of social order. What part of society will never be satisfied. So not only communism but capitalism is not perfect.

Perhaps a system that mixes capitalism and socialism may be better.

There is no best economic system that is existing in the world. Humans are not perfect and so even if we have a perfect economic system but as long as it is run by imperfect creatures it will still be less perfect. So to make a best economic system we must make the best out of people. Good people can make a good system, run a good system, make a good economic system.

Any economic system based on the principle of respect for all members of society to certain rules. And if people do not agree with these rules? Look at the income from oil is a resident of Saudi Arabia and Russia. Here you have the contradiction.

People are insatiable beings. They always want more. But using some mechanisms, people's insatiable feelings can be stopped. There are laws for this.
The important thing is that resources can be shared equally. Of course we need to improve on the sense of sharing.
Both the economic system and people must change together.

Quite a number of people will agree that there is no best economic system as even in high school where all these types are explained, they all have their advantages and disadvantages but as for me, I will still prefer capitalism over here when people see rich men do things they just inteprete it to waste of money and that there are several people who are suffering but I hold the opinion that so far you didnt engage in anything illegal, then you dont owe anybody an explanation on how you spend your money its  a free world where you have the ability to stretch yourself to your utmost capacity.

I also believe that capitalism is the best economic system, but if you pay attention to Swedish socialism, this system is no worse and maybe even better. Can the development of capitalism is socialism?

Living Peaceful and Happily are going to be two very different things, based on the fact that not everyone is going to be happy but if we're going to be talking about the MAJORITY of the people in a state / nation being happy I'd have to go ahead and think that Capitalism is the best system for people to thrive under.

I'm not going ahead and saying FREE-MARKET capitalism is the best way to go as we know without some Government regulation their is going to be abuses in the work force and problems with companies having such an impact on a countries economy that if they go bankrupt it can cause a meltdown of the entire economy itself. These are the reasons that we don't have a free market capitalistic economy.

To sum it up, Capitalism is the best economic system in my opinion.

An organized way in which a state or nation allocates its resources and apportions goods and services in the national community.

optimum solution is Mixed Economy.
Good features of other systems are gathered in this.
Both social justice and the power of money.
As in many European countries

Having the "best economic system" is starting with the people. Because if they will cooperate to each other its not impossible to have "THE BEST". It would be not that perfect that everyone wants, but giving its best effort just to have the best economic is a great feeling all the citizen in that particular country.

Capitalism seems to be a better one at the moment.

Every system that people can meet their needs is ideal. Other than that, the problem will come up whichever system comes.
What is important is the elimination of basic needs such as education and health.

absolutely but the full on absolute free capitalism, as much as I'm for capitalism than any other way, I'd rather see government regulated the prices a little but cheer on and help out those who want to start out new businesses.

Perhaps the best is the Mixed Economy. Every system has a bad side. It might make sense to get the best parts of all the systems. But who will decide if something is good. Because in other economic systems, the systems that someone thinks are the best.

i think that only individuals can answer,

a communist state might suck for the top 1% in the  usa but for the lowest 1% in the usa a communist state would be great, the same counts for migrants and refugees, a communist state has no landownership but central distribution authorities, but it sucks for solitary people who want to build their own dreams.

good; for whom, for what?
As other users have said; Society decides it. Human nature chooses capitalism but Socialism rests on justice.
question that is critical at this point is; How to share total revenue?
The secret of business: to share with peace and justice.

The best economic system is one that maximally provides people with what they need more. Under the market system, the owner himself plans what and how much to release in order to please the consumer and not to go bankrupt himself.

Any economic system which cares about people is doomed to failure. The economy must work for profit. Social welfare should deal with the government. If there is a profit payouts.

I'd still probably go with capitalism. I don't know if it would be socialism but capitalism with some sort of safety net for the citizens as well as ways to discourage lobbying would be ok.

Now that we've talked about this, I suddenly remembered a documentary I saw about a gift economy. Probably would not work with our society but interesting nonetheless.

The best system is derived from the ideas of the count of Frou Frou:

Others earn the money and they give it to me.

Such an economic system reminds me of banditry. Others earn, and you robbed them. It's bad.

the rich economic  system for me is america or either china ..but  the best economic system  for me is people why? because if we have unity we  can do our best in our country but the truth is doomed because government hide us their corupt works .

The best economic system is capitalism and socialism,,,capitalism= it allows people to own businesses and obtain wealth. Capitalism rewards hard work and success,while socialism= is a populist economic and political system in which the means of production operate under public political ownership.

Which is the best economic system? The one we have in America, and is reaching all the parts of the world.

Why is it best? Because it is two-part. The first part is made up of investors. The second part is made up of people who simply use the money for trade, but do little investing.

If the money system collapses, the investors will be done for. Average non-investors will keep on using the greenbacks for simple trade until they wear out. By that time, other currency, or Bitcoin, will become prevalent enough to take the place of the worn-out cash dollar bills.

Of course, by then the investors will have thought of ways to mess with the money again, for investing purposes.

As it is, the two systems, investors and users, are separate. The collapse of one won't have much impact on the operation of the other.

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