Examples of Capitalism

Capitalism is an economic system in which the means of production and distribution are privately or corporately owned and the operations are funded by profits.

The principle of individual rights rules the capitalistic ideal and implementation. Private individuals, organizations and corporations make independent decision about prices, production and distribution of goods resulting in an, ideally, self-regulating market.

Capitalist Countries

While many would argue that there are no examples of true capitalism, some examples of countries employing capitalism include:

United States Canada United Kingdom Australia New Zealand Austria Ireland Sweden Switzerland Israel Japan South Korea Luxembourg Norway Bermuda Iceland Denmark San Marino Belgium Netherlands Finland Czech Republic Slovakia Slovenia Hong Kong Singapore Bahrain

Chile Estonia Mauritius Cyprus Macau Germany Lithuania Taiwan St. Lucia Qatar Georgia Spain Uruguay Oman Armenia Jordan El Salvador Botswana Peru Barbados Columbia United Arab Emirates Mexico Costa Rica Hungary Trinidad and Tobago

Saint Vincent and the Grenadines Malaysia

Saudi Arabia Macedonia Latvia Malta Jamaica Panama Bulgaria Kuwait Thailand Romania France Cape Verde Turkey Poland Portugal Albania Belize Croatia Uganda South Africa Guatemala Samoa Italy Greece Lebanon

AsianBahrain, Hong Kong, Japan, Kuwait, Mauritius, Singapore, South Korea, Taiwan, Thailand and United Arab Emirates

EuropeanAlbania, Austria, Belgium, Bulgaria, Crotia, Czech Republic, Denmark, Estonia, Finland, France, Georgia, Germany, Greece, Iceland, Ireland, Italy, Latvia, Macedonia, Malta, Netherlands, Norway, Portugal, Romania, Slovakia, Slovenia, Spain and United KingdomAfricanCape Verde, Jamaica, South Africa and UgandaNorth AmericanBarbados, Belize, Canada, El Salvador, Guatemala, Panama and United States of AmericaSouth AmericanChile, Mexico and PeruOthersAustralia and SamoaCommunism in the Twentieth Century

A communist state is a term used for a country that is ruled by a communist party that follows the ideology of Lenin orMarx and Lenin.

Here are examples of Communism in the twentieth century:

Afghanistan - Communistic from 1978 to 1992, was the Democratic Republic of Afghanistan Albania - A Warsaw Pact nation, Albania was communistic from 1944 to 1992 and was the 

People's Socialist Republic of Albania Angola - Communistic from 1975 to 1991, was the People's Republic of Angola Benin - Communistic from 1975 to 1990, was the People's Republic of Benin Bulgaria - A Warsaw Pact nation, Bulgaria was communistic from 1946 to 1990 and was the 

People's Republic of Bulgaria Cambodia - Communistic from 1975 to 1989  Congo - Communistic from 1970 to 1991 and was the People's Republic of the Congo Czechoslovakia - A Warsaw Pact nation, Czechoslovakia was communistic from 1948 to 

1989 and was the Czechoslovak Socialist Republic East Germany - Communistic from 1949 to 1990 and was the German Democratic Republic Ethiopia - Communistic from 1987 to 1991 and was the People's Democratic Republic of 

Ethiopia Hungary - A Warsaw Pact nation, Hungary was communistic from 1947 to 1989 and was the 

People's Republic of Hungary and Hungarian People's Republic  Mongolia - Communistic from 1924 to 1992 and was the Mongolian People's Republic  Mozambique - Communistic from 1975 to 1990 and was the People's Republic of 

Mozambique North Vietnam - Communistic from 1954 to 1976 when it became unified with South 

Vietnam Poland - A Warsaw Pact nation, Poland was communistic from 1945 to 1989 and was the 

People's Republic of Poland  Romania - A Warsaw Pact nation, Romania was communistic from 1947 to 1989 and was 

the Socialist Republic of Romania Somalia - Communistic from 1969 to 1991 and was the Somali Democratic Republic

South Yemen - Communistic from 1967 to 1990 and was the People's Democratic Republic of Yemen

Soviet Union - Communistic from 1922 to 1991 and was the Union of Soviet Socialist Republics

Yugoslavia - Communistic from 1945 to 1992 and was the Socialist Federal Republic of Yugoslavia

Country Since PartyHead

of party

Head of

state

Head of government

 People's Republic of China

1 October 1949

Communist Party of China

Xi Jinping(since 2012)

Li Keqiang(since 2012)

 Republic of Cuba

1 July 1961Communist Party of Cuba

Raúl Castro(since 2006)

 Lao People's Democratic Republic

2 December 1975

Lao People's Revolutionary Party

Choummaly Sayasone

(since 2006)

Thongsing Thammavong(since 2010)

 Socialist Republic of Vietnam

2 July 1976Communist Party of Vietnam

Nguyen Phu 

Trong(since 2011)

Truong Tan Sang

(since 2011)

Nguyen Tan Dung

(since 2006)

Former[edit]

Country Full name From UntilConstitutional

statement

 Afghanistan Democratic Republic of

27 April  30 November 

Preamble: "In the present stage, the People's Democratic Party of 

Country Full name From UntilConstitutional

statement

Afghanistan 1978 1987 Afghanistan, as the initiator and coordinator of the policy of National Reconciliation, actively carries forward together with other political, national and democratic forces this humanitarian policy."[1]

Republic of Afghanistan

30 November 1987

28 April 1992

 Albania

Democratic Government of Albania

29 November 1944

11 January 1946

Section 1, Article 1: "The People's Socialist Republic of Albania is a state of the dictatorship of the proletariat, which expresses and defends the interests of all the working people.[2]

People's Republic of Albania

11 January 1946

28 December 1976

People's Socialist Republic of Albania

28 December 1976

22 March 1992

 AngolaPeople's Republic of Angola

11 November 1975

27 August 1992

Section 1, Article 2: "All sovergenity is vested in the Angolan people. The MPLA, their legitimate representative constituted from a broad front including all patriotic forces engaged in the anti-imperialist struggle, is responsible for the political, economic, and social leadership of the nation."[3]

Country Full name From UntilConstitutional

statement

 BeninPeople's Republic of Benin

30 November 1975

1 March 1990

Legally a socialist state

 BulgariaPeople's Republic of Bulgaria

15 September 1946

7 December 1990

Section 1, Article 1: ""The People's Republic of Bulgaria is a socialist state of the working people from town and village, headed by the working class."[4]

 Cambodia

Democratic Kampuchea

17 April 1975

10 January 1979 Legally a socialist state from 1979 

to 1989, ruled by a communist party from 1975 to 1989People's

Republic of Kampuchea

10 January 1979

1 May 1989

 Congo-Brazzaville

People's Republic of the Congo

3 January 1970

15 March 1992

Presidential oath: "I swear allegiance to the Congolese people, to the Revolution and to the Congolese Labor Party. I Shall undertake, while guided by Marxist–Leninist principles, [...] to devote all my strength to the triumph of the proletarian ideals"[5]

 Czechoslovakia Czechoslovak Republic

9 June 1948

11 July 1960

Section 1, Article 1: "The Czechoslovak Socialist Republic is a 

Country Full name From UntilConstitutional

statement

socialist state founded on the firm alliance of the workers, farmers and intelligentsia, with the working class as its head."[6]

Czechoslovak Socialist Republic

11 July 1960

29 March 1990

 Ethiopia

Provisional Military Government of Socialist Ethiopia

28 June 1974

22 February 1987

Country declared Marxist–Leninist in 1974, the Workers' Party of Ethiopia becoming "the formulator of the country's development process and the leading force of the state and in society" in 1987.[7]

People's Democratic Republic of Ethiopia

22 February 1987

27 May 1991

 East GermanyGerman Democratic Republic

7 October 1949

3 October 1990

Section 1, Article 1: "The German Democratic Republic is a socialist state of workers and peasants. It is the political organization of the working people of town and country under the leadership of the working class and itsMarxist–Leninist party."[8]

 HungaryHungarian People's Republic

20 August 1949

23 October 1989

Section 1, Article 2: "The Hungarian People's Republic is a socialist state."[9]

 North Korea Democratic 9  19  Section 1, Article 1: The 

Country Full name From UntilConstitutional

statement

People's Republic of Korea

September 1948

February 1992[10]

Democratic People's Republic of Korea is an independent socialist state representing the interests of all the Korean people."[11]

 MongoliaMongolian People's Republic

24 November 1924

12 February 1992

Section 1, Article 2: "The Mongolian People's Republic is state which exists and is developing in the form ofpeople's democracy."[12]

 MozambiquePeople's Republic of Mozambique

25 June 1975

1 December 1990

Section 1, Article 2: "power belongs to the workers and peasants united and led by FRELIMO and organs of people's power."[13]

 PolandPolish People's Republic

28 June 1945

19 July 1989

Section 1, Article 1: "The Polish People's Republic is a socialist state."[14]

 Romania

Romanian People's Republic

30 December 1947

21 August 1965 Section 1, Article 3: "The leading 

force of society in the Socialist Republic of Romania is the Romanian Communist Party."[15]Socialist

Republic of Romania

21 August 1965

21 December 1989

Country Full name From UntilConstitutional

statement

 SomaliaSomali Democratic Republic

21 October 1969

26 January 1991

Section 1, Article 1: "The Somali Democratic Republic is a socialist state led by the working class, and is an integral part of the Arab and African entities."[16]

 Soviet Union

Union of Soviet Socialist Republics

30 December 1922

26 December 1991

Section 1, Article 1: "The Union of Soviet Socialist Republics is a socialist state of the whole people, expressing the will and interests of the workers, peasants, and intelligentsia, the working people of all the nations and nationalities of the country."[17]

 North VietnamDemocratic Republic of Vietnam

2 September 1945

30 April 1975

Section 2, Article 9: "The Democratic Republic of Vietnam is advancing step by step from people's democracy to socialism by developing and transforming the national economy along socialist lines, transforming its backward economy into a socialist economy with modern industry and agriculture and an advanced science and technology."[18]

 South Yemen People's Democratic Republic of Yemen

30 November 1967

22 May 1990

Section 1, Article 3: "The Yemeni Socialist Party, armed with the Scientific Socialism theory, is the leader and guide of society and 

Country Full name From UntilConstitutional

statement

state."[19]

 Yugoslavia

Democratic Federal Yugoslavia

29 November 1943

29 November 1945

Section 1, Article 2: "The socialist system in Yugoslavia is based on relations between people acting as free and equal producers and creators, whose work serves exclusively to satisfy their personal and common needs."[20]

Federal People's Republic of Yugoslavia

29 November 1943

7 April 1963

Socialist Federal Republic of Yugoslavia

7 April 1963

27 April 1992

Non-Marxist–Leninist[edit]

Current countries with constitutional references to socialism[edit]

Country SinceForm of

governmentConstitutional

statement

 People's Republic of Bangladesh

11 April 1971

Multi-party system

Preamble: "Further pledging that it shall be a fundamental aim of the State to realise through the democratic process, a socialist society free from exploitation, a society in which the rule of law, fundamental human rights and freedoms, equality and justice, political, economic and social, will be secured for all citizens;"[21]

Country SinceForm of

governmentConstitutional

statement

 Cooperative Republic of Guyana

6 October 1980

Multi-party system

Preamble: "Convinced that the organisation of the State and society on socialist principles is the only means of ensuring social and economic justice for all of the people of Guyana; and, therefore, being motivated and guided by the principles of socialism"[22]

 Republic of India

18 December 1976 [23]

Multi-party system

Preamble: "We, the people of India, having solemnly resolved to constitute India into a one Sovereign Socialist Secular Democratic Republic and to secure to all its citizens:"[24]

 Democratic People's Republic of Korea

19 February 1992

One-party system

Preamble: "The Democratic People's Republic of Korea is the socialist motherland of Juche, which has applied the idea and leadership of Kim Il-sung."[25]

 Portuguese Republic

2 April 1976

Multi-party system

Preamble: "The Constituent Assembly affirms the Portuguese people's decision to [...] ensure the primacy of a democratic state based on the rule of law and open up a path towards a socialist society,"[26]

 Democratic Socialist Republic of Sri Lanka

7 September 1978

Multi-party system

Preamble: "[...] to constitute Sri Lanka into a democratic socialist republic whilst ratifying the immutable republican principles of representative democracy, and assuring to all peoples freedom, equality, justice, fundamental human rights and the independence of the judiciary"[27]

Country SinceForm of

governmentConstitutional

statement

 United Republic of Tanzania

26 April 1964

Multi-party system

Section 1, Article 3: "The United Republic is a democratic, secular and socialist state which adheres to multi-party democracy".[28]

Former[edit]

CountryFull

nameFrom Until

Constitutionalstatement

 Algeria

People's Democratic Republic of Algeria

8 September 1963

23 February 1989

Preamble: "the democratic and popular Algerian Republic will direct its activities toward the construction of the country in accordance with the principles of socialism"[29]

 Burma

Socialist Republic of the Union of Burma

2 March 1962

23 September 1988

Chapter XVI General Provisions: "In order to overcome this deterioration and to build Socialism, the Revolutionary Council of the Union of Burma assumed responsibility as a historical mission, adopted the Burmese Way to Socialism, and also formed the Burma Socialist Programme Party."[30]

 Egypt Republic of Egypt

22 July 1957

22 February 1958

Preamble: "The Arab Republic of Egypt is a democratic, socialist state based on the alliance of the working forces of the 

CountryFull

nameFrom Until

Constitutionalstatement

people."[31]

United Arab Republic

22 February 1958

2 September 1971

Arab Republic of Egypt

2 September 1971

26 March 2007

 IraqRepublic of Iraq

17 July 1968

9 April 2003

Chapter 1, Article 1: "Its [the country's] basic objective is the realization of one Arab State and the build-up of the socialist system."[32]

 Libya

Libyan Arab Republic

1 September 1969

2 March 1977

Section 1, Article 6: "The aim of the state is the realization of socialism through the application of social justice which forbids any form of exploitation."[33]

Great Socialist People's Libyan Arab Jamahiriya

2 March 1977

23 October 2011

 SudanDemocratic Republic of Sudan

8 May 1973

10 October 1985

Preamble: "In the belief of our pursuit of freedom, socialism and democracy to achieve the society of sufficiency, justice and equality,"[34]

 Syria Syrian 8 March  27  Section 1, Article 8: "The leading party in the 

CountryFull

nameFrom Until

Constitutionalstatement

Arab Republic

1963February 2012

society and the state is the Socialist Arab Ba'ath Party. It leads a patriotic and progressive front seeking to unify the resources of the people's masses and place them at the service of the Arab nation's goals."[35]

Rank

CountrySummary

index

1  Hong Kong 8.97

2  Singapore 8.73

3  New Zealand 8.49

4   Switzerland 8.30

5  United Arab Emirates 8.07

6  Mauritius 8.01

7  Finland 7.98

Rank

CountrySummary

index

8=  Bahrain 7.93

8=  Canada 7.93

10  Australia 7.88

11  Chile 7.87

12  United Kingdom 7.85

13  Jordan 7.81

14  Denmark 7.78

15  Taiwan 7.77

16  Estonia 7.76

17  United States 7.73

18  Cyprus 7.72

19  Germany 7.68

Rank

CountrySummary

index

20  Ireland 7.66

21  Malta 7.65

22  Peru 7.64

23=  Qatar 7.62

23=  Armenia 7.62

25=  Georgia 7.61

25=  Lithuania 7.61

27=  Austria 7.59

27=  Hungary 7.59

29  Sweden 7.58

30  Netherlands 7.57

31  Norway 7.56

Rank

CountrySummary

index

32  Spain 7.53

33=  Japan 7.50

33=  South Korea 7.50

35  Luxembourg 7.49

36=  Rwanda 7.46

36=  Slovakia 7.46

38  Lebanon 7.41

39  Bahamas 7.40

40  France 7.38

41  Iceland 7.37

42  Belgium 7.36

43  Uruguay 7.35

Rank

CountrySummary

index

44  Portugal 7.34

45  Romania7.32