Free market capitalism alone is not the ideal, nor is socialism. It is the combination of free market forces and good government that provides the ideal outcomes both in economic terms and societal terms. Both sides fail to see this. Without a state that operates with integrity and genuinely to advance the interests of the majority of citizens you will have sub optimal results. Achieving a government that does this is not easy. Without consistent and well formulated laws and enforcement of those laws it is very difficult for any economy to operate well. Traders, merchants, producers and consumers all need fair and reasonable laws and enforcement to enable a prosperous marketplace. Without the ability to form contracts and have them enforced any economic productivity, trade and exchange is fraught. Without a well governed state to both protect its citizens from foreign predatory interests and to support their access to foreign trade, technology and markets a nation and its people are disadvantaged.
Free market capitalism alone is not the ideal, nor is socialism.
It is the combination of free market forces and good government that provides the ideal outcomes both in economic terms and societal terms.
Both sides fail to see this.
Without a state that operates with integrity and genuinely to advance the interests of the majority of citizens you will have sub optimal results.
Achieving a government that does this is not easy.
Without consistent and well formulated laws and enforcement of those laws it is very difficult for any economy to operate well.
Traders, merchants, producers and consumers all need fair and reasonable laws and enforcement to enable a prosperous marketplace.
Without the ability to form contracts and have them enforced any economic productivity, trade and exchange is fraught.
Without a well governed state to both protect its citizens from foreign predatory interests and to support their access to foreign trade, technology and markets a nation and its people are disadvantaged.