There is no capitalist state in the world with 100% capitalist morals. In fact, no country in the world has complete economic freedom. There’s not much economic freedom in the United State as many people reckon. Russia is also not the best country in terms of economic freedom.
Nonetheless, identifying a capitalist state in the world is extremely difficult. Because of this difficulty, many research organizations and institutions use the country’s level of economic freedom to determine whether it is a capitalist state.
The top ten countries with the most capitalist economies (ranked from highest to lowest score) according to the Heritage Organization’s Economic Freedom of the World Index are:
1. Singapore (Freedom Score: 89.7)
2. New Zealand (83.9)
3. Australia (82.4)
4. Switzerland (81.9)
5. Ireland (81.4)
6. Taiwan (78.6)
7. United Kingdom (78.4)
8. Estonia (78.2)
9. Canada (77.9)
10. Denmark (77.8)
Let us return to the original question.
How does one become wealthy in a capitalist society?
We can conclude from the aforementioned that no country adheres to 100% capitalist principles. In capitalism, economic freedom is everything. Economic freedom is what drives capitalism’s economic growth and development.
In contrast to the socialist system, the capitalist system fosters innovation and creativity. Market forces in capitalism determine the price of a product and the wages of workers.
Consumers in capitalism want high-quality products at the lowest possible price. Manufacturers prefer efficient labour with low wages and benefits.
In a capitalist state, those who produce high-quality goods at a low cost and provide efficient labour at a low wage become wealthy. Among other factors, this is why Dangote and Coca-Cola are more prominent in Nigeria.
To become wealthy, create products that millions of people want to buy because they improve their quality of life in society. Capitalism is all about love, freedom, and creating social inequality.
Learn how to get close to politicians and bureaucrats in a mixed economy, and how to sound wicked because you always take advantage of a miserable situation.
Capitalism creates opportunities for everyone and fosters innovation and creativity. Socialism is a barrier to economic growth and innovation. Socialism is evil while capitalism is a lesser evil.
