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Old 12-12-2009, 01:10 PM   #1
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Is America still the most capitalist country?

So I'm reading a great book by Ayn Rand called "capitalism." Before you flame (even though I am a HUGE Rand fan) this book is a collection of articles written about capitalism and scratches the service of objectivism and its not all straight from Rand's mouth. There is a bunch of articles by Rand, Alan Greenspan and some others. Its a great book, quick read due to it being separated by articles.

Anyway, they talk a lot of government intervention, certain laws made in America, what America was originally founded on, and where it may be heading. Even though most of the articles are from the 60s they still make sense in today's context.

So, is America still the most capitalist country? Why or why not?
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Old 12-12-2009, 01:21 PM   #2
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Re: Is America still the most capitalist country?

Hong Kong isnt a country but the region is managed in a much more capitalist way (no import duties, total free trade, little labour laws) although they have a lot of urban planning and taxes on land.

Australia I think is more capitalist, at least going that way, although the state still manages a larger % of gdp than America.

One of the states with smallest % gdp is amazingly China, I remember seeing that they had something like 10% of gdp for the state, while USA was around 30%.

Some small countries are probably the most... i dunno much about cayman islands, luxemburg, carribean nations, etc... but there are pretty free places out there.

Chile is good also, the only place on earth with a long term sustainable pension system (not based on benefits but on contribution) and funds are not treated like a ponzi scheme like everywhere else
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Old 12-12-2009, 01:27 PM   #3
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Re: Is America still the most capitalist country?

If you take into account small city states the USA was probably never the most capitalist country. But you need to define what the scale of capitalism is before you can really ask such a question.
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Old 12-12-2009, 01:43 PM   #4
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Re: Is America still the most capitalist country?

OT: I still can't understand how Greenspan tries to pass himself off as an objectivist when he was an integral part of a system that helped the 'looters', as Rand would label them.
Can someone explain it to me?
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Old 12-12-2009, 02:04 PM   #5
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Re: Is America still the most capitalist country?

If you want to consider first world and developed countries only (excluding Hong Kong, for example), then Switzerland is probably the best choice.
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Old 12-12-2009, 03:30 PM   #6
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Re: Is America still the most capitalist country?

Quote:
Originally Posted by burkoboy View Post
scratches the service of objectivism
nice
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Old 12-12-2009, 04:50 PM   #7
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Re: Is America still the most capitalist country?

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Originally Posted by skindog View Post
OT: I still can't understand how Greenspan tries to pass himself off as an objectivist when he was an integral part of a system that helped the 'looters', as Rand would label them.
Can someone explain it to me?
I'm still kind of asking myself the same thing. He has some pretty strong feelings and makes some strong statements in some of these articles.

I guess his thinking is that the Fed is not "actually" a governmental body.

I don't think you go to these secret meetings with Rand, write articles, and then just 'forget' what you've believed half your life to become the Fed President.

The better question may be since America is more of a mixed economy, how he even got to be the Fed president when his thoughts and feelings on the economy were published in writing.
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Old 12-12-2009, 05:02 PM   #8
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Re: Is America still the most capitalist country?

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Originally Posted by kyleb View Post
If you want to consider first world and developed countries only (excluding Hong Kong, for example), then Switzerland is probably the best choice.
This is what I was thinking, but aren't the taxes pretty high?

They are pretty economically advanced and intelligent but I always thought they had more of a collectivist grounding like most of Europe.
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Old 12-12-2009, 06:16 PM   #9
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Re: Is America still the most capitalist country?

Quote:
Originally Posted by skindog View Post
OT: I still can't understand how Greenspan tries to pass himself off as an objectivist when he was an integral part of a system that helped the 'looters', as Rand would label them.
Can someone explain it to me?
Anakin Skywalker used to be a Jedi.
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Old 12-12-2009, 07:24 PM   #10
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Re: Is America still the most capitalist country?

A perspective:

http://www.efnasia.org/index.php?opt...ation&Itemid=6

http://www.freetheworld.com/2009/rep...9_EFW-intl.pdf

Quote:
In this year’s main index, Hong Kong retains the highest rating for economic freedom, 8.97 out of 10. The other top scorers are: Singapore (8.66), New Zealand (8.30), Switzerland (8.19), Chile (8.14), United States (8.06), Ireland (7.98), Canada (7.91), Australia tied with the United Kingdom (7.89), and Estonia (7.81).

The rankings and scores of other large economies include Taiwan, tied for 16th with Finland and Mauritius (7.62); Germany, 27 (7.50); Japan, 28 (7.46); South Korea, 32 (7.45); France 33 (7.43); Spain, 39 (7.32); Sweden, 40 (7.28); Italy, 61 (6.95); Mexico, 68 (6.85); China, 82 (6.54); Russia, 83 (6.50); India, 86 (6.45); Argentina, 105 (6.10); and Brazil, 111 (6.00).

Zimbabwe once again has the lowest level of economic freedom followed by Myanmar, Angola, and Venezuela.
http://www.fraserinstitute.org/resea...ions/6905.aspx
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Old 12-12-2009, 07:26 PM   #11
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Re: Is America still the most capitalist country?

another perspective:

http://www.heritage.org/Index/
http://www.heritage.org/Index/Ranking.aspx
Quote:
1 Hong Kong 90.0 +0.3
2 Singapore 87.1 -0.2
3 Australia 82.6 +0.4
4 Ireland 82.2 -0.3
5 New Zealand 82.0 +1.2
6 United States 80.7 -0.3
7 Canada 80.5 +0.3
8 Denmark 80.0 +0.4
9 Switzerland 79.4 -0.1
10 United Kingdom 79.0 -0.5
http://www.heritage.org/Index/pdf/Index09_ExecSum.pdf
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Old 12-12-2009, 09:14 PM   #12
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Re: Is America still the most capitalist country?

Now, onto the question of which of those countries has the highest earning potential for US citizens?

It seems its pretty clear that just staying in the United States is the best decision for now. Still relatively high on the list, same spoken language, knowledge of business, most went to school here.
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Old 12-13-2009, 12:42 AM   #13
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Smile Re: Is America still the most capitalist country?

Quote:
Originally Posted by skindog View Post
OT: I still can't understand how Greenspan tries to pass himself off as an objectivist when he was an integral part of a system that helped the 'looters', as Rand would label them.
Can someone explain it to me?
Greenspan loved Rand (a prized student/follower) and Austrian economics (even argued for a gold standard) until he got a job at the federal reserve system... I believe he came under some pressure there to do what he was told.


To answer the OP... Hong Kong
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Old 12-13-2009, 11:19 AM   #14
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Re: Is America still the most capitalist country?

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Originally Posted by Mrmusicrecorder View Post
Greenspan loved Rand (a prized student/follower) and Austrian economics (even argued for a gold standard) until he got a job at the federal reserve system... I believe he came under some pressure there to do what he was told.
Whose bread I eat his song I sing, eh?
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Old 12-13-2009, 03:36 PM   #15
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Re: Is America still the most capitalist country?

Skindog. How did you go pick that avatar?


I used to have a chihuahua and find your avatar hilarious.



Yes America is still the most capitalistic country. It is still by far the largest buyer of foreign assets.
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