8 junio, 2024

The 31 Most Representative Capitalist Countries in the World

The capitalist countries They are those whose system of social and economic organization is based on private ownership of the means of production. Currently, capitalism is the most widespread economic order in world countries. Capital is the central factor of this entire system and is made up of real estate, machinery, facilities, money, goods and even labor forces.

Unlike other forms of organization, the role of the State is limited, it only regulates the legal provisions so that companies have freedom of action in the market. The economic liberalism of John Locke, Adam Smith or Benjamin Franklin, is the theory that gave rise to capitalism.

Within this doctrine there are different branches, there are those who have more liberal positions and those who seek a combination with other models to give greater preponderance to the role of the State.

In this article, I bring you some of the most representative capitalist countries in the world and in history.

List of countries representing capitalism

1- United States

The United States could be considered the quintessential capitalist model. It is the main economy in the world, in a close fight with China, and it is the main power of the West.

The process towards capitalism in the country began in the first half of the 19th century with the factory system, the industrial system that expanded rapidly throughout the territory and all economic sectors.

Slowly, the United States began its commercial expansion, which gained momentum with the fordism (the mass production system). After the Second World War, it established itself as a capitalist country, until it became the current power.

2- France

With the French revolution at the end of the 18th century and the arrival of the bourgeoisie to power, France began its capitalist history between political and economic ups and downs.

It is currently considered one of the most developed countries in the world for its quality of life. It is the ninth largest economy in the world. Although it has a broad base of private capital, state intervention is higher than in other similar countries.

3- Japan

This country began its adaptation to capitalism towards the end of the 19th century, with the Meiji Restoration. This series of events triggered the abolition of feudalism and the adoption of some institutions similar to Western ones.

Japanese expansion was affected after World War II, with the drop of two atomic bombs. However, from these, the eastern power achieved growth levels that make it the fourth largest economy in the world, behind the United States, China and India.

4- Germany

The case of this European country is often explained as the “German miracle”. It was the nation that was defeated in the two World Wars and since 1948, with the country divided, its capitalist expansion began.

After reunification in 1990, Germany became the main economy of the continent and the fifth power in the world.

5- Italy

It was another of the world powers that began its most solid capitalist transformation after World War II. It went through a harsh economic crisis at the beginning of the 21st century.

At present and thanks to its great industrial development, it is the eleventh largest economy worldwide and the fourth in Europe.

6- Sweden

Although this Nordic country has a strong welfare state, linked to socialism, its economy is capitalist. Furthermore, according to International Monetary Fund (IMF), is one of the most advanced in the world.

Starting in 1990, Sweden began its shift to a market economy, driven by an economic crisis and the need to be able to profit from its timber, hydropower, and iron production.

7- Holland

Starting in the 17th century, this country began an economic transformation that was based on the opening of its laws to take advantage of its strategic position.

Since the end of the 1980s, this process has deepened with the reduction of the role of the state in favor of industrial and chemical activity.

8- United Kingdom

The cradle of capitalism, both for its theoretical production and for its historical economic liberalism and the industrial revolution of the 19th century.

Thanks to its great industrialization and its strong service sector, it is the eighth largest economy in the world.

9- Belgium

It is a case similar to that of the Netherlands, with whom the Netherlands is made up. Densely populated and in an area of ​​high industrialization, Belgium has a capitalist market economy.

It was the first European country to develop the industrial revolution and has one of the highest per capita income in the Old Continent.

10- Switzerland

It is a country with high economic freedom, considered one of the most advanced and stable capitalist nations on the planet. As well as, the second most competitive.

With a strong financial services sector and highly developed industry, Switzerland has a flexible labor market and low unemployment.

11- South Africa

It is part of the BRICS (Brazil, Russia, India, China and South Africa), a group of emerging nations. Its economy had a great development in recent decades, despite the major crises and health problems that it had to face.

It is the main economy in Africa thanks to its natural resources, gold and platinum, and one of the 30 most important in the world.

12- Brazil

The South American giant is another member of the BRICS. It is the main economy in Latin America, the second in the continent behind the United States and the seventh in the world.

Its great industrial, mining, manufacturing and service development, added to its large workforce, led it to overcome successive crises.

13- Mexico

It is one of the main economies in the world, it ranks tenth in terms of Gross Domestic Product (GDP), but it has the highest poverty rate of that group, at 42%.

14- Colombia

With a strong service sector, its economy experienced strong growth starting in the 21st century and is currently one of the emerging powers in the region and the world.

15- Luxembourg

It has the second GDP per capita in the world, behind Qatar. Its developed economy is based mainly on financial services, thanks to the fact that it has the most lax tax regimes in Europe.

16- United Arab Emirates

It is a sum of different emirates that make up one of the richest economies in the world.

With investment in oil development since the 1970s and a liberal economy, it has a high per capita income and one of the highest trade surpluses on the planet.

17- Singapore

This nation bases its political system on a kind of replica of the English model and its economy is no stranger to this. With a free market system, like the other asian tigers” (Hong Kong, South Korea and Taiwan), has one of the highest GDP per person in the world.

Its main sources of income are exports and the refinement of imports, with a developed industrial sector.

18- Spain

Its transformation to capitalism began with the Industrial Revolution in the 19th century, but it was with a second wave of industrialization in the 20th century that it consolidated its model.

Spain is one of the examples that capitalism can fail, after successive crises in recent decades the country achieved stability that places it as the fourteenth world economy.

19-Hong Kong

Since the 2010s, it has been one of the world leaders in terms of the capitalist economy.

It is going through its greatest moment of monetary freedom since British colonialism and the degree of autonomy from China, making it one of the richest countries in terms of personal wealth.

20- Indian

The adoption of capitalism in India began in the 1990s, after nearly half a century of a failed socialist trial.

With the change in the model and the opening of the markets, the Asian country became one of the fastest growing countries today.

With a strong service sector, a developed industry, accompanied by a robust agriculture and a large workforce of more than 500 million people, India is the third largest economy in the world. It is also part of the BRICS.

twenty-one- Ireland

After Switzerland, it is considered the most capitalist country in Europe. Although he already embraced liberalism in the 1970s, after the 2008 crisis the policies were even more supported.

Currently its economic growth is above the European average, standing out for having one of the highest GDP per capita in the world. Companies like Intel, Google, Yahoo, Twitter, Ryanair or PayPal are based in the Irish capital thanks to its tax advantages.

22- Chili

youafter the socialist essay of Salvador Allende In 1970, Chile turned towards capitalism until it became one of the most stable economies on Earth.

Despite a strong mining sector and a free market economy, it has high levels of inequality.

23- Russia

with the end of the Cold War and the fall of the socialist and communist models, Russia emerged as a capitalist power thanks to the increase in oil prices.

24- Canada

It is one of the richest economies in the world, ranked 13th according to its GDP. Its free market system is considered to be better than that of the United States and the European powers.

With a developed industry and a thriving energy sector, Canada is one of the main exporters on the planet.

25- New Zealand

After Hong Kong and Singapore, the most liberal economy in the world. After the great reform that the country underwent in the 80s, known as «Rogernomics», the oceanic country has not stopped creating policies related to capitalism.

Reduced taxes, lower public spending, customs liberalization, labor flexibility, in any of these sections it is very common to see New Zealanders leading the rankings.

26- Iran

Iran is another case of the countries whose capitalist economy emerged thanks to oil. It was in the 20th century that this nation began its growth with the extraction, refining and production of products derived from crude oil.

27- Malaysia

Its model is similar to that of the «Asian Tigers», but with the difference that it lacks a solid manpower base, which slowed down its development. Its economic system is based on mining, agriculture and the tertiary sector, services.

28- Peru

The Peruvian case is one of the most emblematic today, with the second lowest inflation rate in the world and a level of growth only comparable to China.

With a free market economy and a strong mining sector, it is one of the strongest countries in the world and the sixth largest in Latin America.

29- South Korea

With a highly-skilled workforce and a thriving industry, South Korea is one of the most developed economies in the world, thanks to its expansion in the late 20th century.

Its capacity to export high-quality manufactured products, especially related to technology, makes it the twelfth largest economy in the world.

30- Australia

The ocean country…

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