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A country can be both capitalist and socialist, as capitalism refers to free markets that, unlike in communism, can determine prices and modes of production. Those who have capital, or a sufficient level of wealth, can begin businesses that employ people and provide a good or service that the market demands.
Marxist–Leninist states
| Country | Since | Party |
|---|---|---|
| People’s Republic of China | 1 October 1949 | Communist Party of China |
| Republic of Cuba | 1 January 1959 | Communist Party of Cuba |
| Lao People’s Democratic Republic | 2 December 1975 | Lao People’s Revolutionary Party |
| Socialist Republic of Vietnam | 2 September 1945 | Communist Party of Vietnam |
Capitalism is central to the US’s national identity; conservatives view the country’s move towards socialism, as personified in the rise of Sanders, as nothing short of an existential crisis. “America v socialism” was the official theme of this year’s Conservative Political Action Conference (CPAC), an annual gathering of US conservatives.
Does socialism work in the United States?
The kind of “socialism” that is being pushed by Bernie and AOC et al has already worked in the USA from the 1930’s until the 1980’s. It was a time in US history that grew a strong middle class which, incidentally has been shrinking SINCE the 1980’s. Democratic Socialism is a mixed economy. It is currently working well in the Nordic countries.
What does ‘America v socialism’ mean?
“America v socialism” was the official theme of this year’s Conservative Political Action Conference (CPAC), an annual gathering of US conservatives. “Our view is it’s not capitalism versus socialism, because socialism isn’t just about economics,” a CPAC organiser told attendees earlier this week.
The country has not so much warmed to socialism as it has cooled on capitalism. This is hardly surprising when you consider how the latter has failed ordinary Americans. The poorest men in the US have the same life expectancy as men in Sudan. Maternal mortality more than doubled between 1991 and 2014. The middle class has shrunk.