fatslob-:O said:
| MDMAlliance said:
I don't really hear people call it a "free enterprise system" so I had to look it up to make sure I knew what you were referring to. One thing is that the definition where we fit as a "Capitalist system" is by a rather broad definition. On Wikipedia, it says "Capitalism is an economic system in which capital assets are privately owned and goods and services are produced for profit in a market economy."
However, our system has elements of this rather than being exclusively this. Not all capital assets are privately owned and not all goods and services are produced for profit. Same goes for China.
The reason why India isn't a major power has to do with the fact that India still heavily believes in their caste system, which is very anti-Capitalistic. This, among with some other things here and there about their predominantly agrarian society also contribute. I also should point out that I'm not saying that China's population is the only reason, there are many other factors as well.
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Maybe not all capital assets are privately owned but a large portion of it is.
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There's a lot of Government control in our market. Too much to be accurately described as a "Capitalist state." This is true for most places, actually. Capitalists would prefer the government to be as small as possible, or not even there. A completely free market unhindered by things such as taxes and laws. That is if we are going for a purist argument. Even if we weren't going for the purist argument, though, we still contain many non-Capitalistic features.
