Hello Seyi Festus Olatoyinbo ,

Firstly, you must take into account that capitalism or socialism is a perspective to understand the economic distribution of the State in a political forms/dynamics way. As a result, it turns out that either of the two ways can help you, what you have to take into account is the purpose of your study...

In summary, what you intend to prove is that it will dictate which of the two is more significant or will be able to bring you more data.. Economic growth is not synonymous with development, so you can use dynamics or raw data available mostly by entities governmental and non-governmental...

Felipe Teixeira Dias Thanks for your insightful comment. Cheers!!!

China's path in the past decades indicate that neither capitalism nor socialism alone can achieve economic growth. A combination of the two is the secret ingredient to China's economic growth. Of course, different countries may have different formulas.

Each country has its own economic system in accordance with the ideology it adheres to. Capitalism, socialism and mixed economic systems have their own strengths and weaknesses. Each economic system describes the role of the state, entrepreneurs/producers and society. Which is the best? It depends on helping the problems found and the objectives in the research which ultimately describe the role of the state, entrepreneurs and society to achieve national economic growth and development.

Prof. Feng Frederic Deng Thanks for your remarkable perspective on this subject. Well appreciated Sir!!!

I'd recommend Ray Dalio's 2021 book, "Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail", where you can undestand the importance of misery and suffering as a fundamental ingredient for the construction of great empires. To attain misery and suffering, one possible tool of "creative destruction" is Socialism, as its core founding idea is to blame others instead of taking responsibility for one's own situation, and this ensures downfall.

Ricardo Henrique Scheidemantel Thanks for your insightful contribution. Best regards!!!

The debate over the preferable economic system for rapid national economic growth and development is complex. Capitalism, with its emphasis on free markets and individual initiative, has been associated with economic growth and innovation. Socialism, focusing on social equality and public ownership, aims to promote the well-being of all citizens. Many successful economies adopt a hybrid approach, combining elements of both systems to strike a balance between individual initiative and social welfare. The effectiveness of any economic system depends on factors such as governance, infrastructure, education, natural resources, and technological advancements. It's important to consider additional factors beyond economic growth, such as social progress, environmental sustainability, and resource distribution. Ultimately, different nations may adopt different models based on their specific goals and requirements.@

Tanka Maya Pulami Thanks for your insightful contribution. Well appreciated!!!

Each mode of production has its own advantages and disadvantages. When it comes to production capitalism is leading but fails to redistribute income, wealth and power across all social stratification. Socialism is leading when it comes to state intervention to address issues of redistribution. Based on experience and observation, I strongly believe that mixed system can be the answer to achieve the rapid national economic growth and development. I am of the view that, economic development should be the priority because it is a determinant of economic growth. if a state/government of a particular country invest in education, health, electricity, water, infrastructural development, building strong institutions etc.., there is a possibility for that country to have high and vibrant economic growth. However, in a capitalist society the agenda is all about achieving a quantitative economic growth.

Kapele Mutachi Thanks for your well articulated and insightful contribution. Well appreciated!!!

Capitalism and Socialism have failed to achieve sustained economic growth and development with well-being for the majority of the population. It´s the opportunity to implement a New Economic Policy, considering the successful strategies of both Capitalism and Socialism (Mixed Why Not).

Both the elements of capitalsim and socialism are needed to attain rapid economic growth. if we follow only capitalism, centralisation, concentration and monopoly capital will be the result. So, to avoid such a concentration of power, elements of socialism should be essential.

Studies have shown that there is no agreement about the nature of the economic system and its impact on rapid economic growth.

The question is wrong! It should be: socialism or barbarism. What we saw in late USSR and modern "socialist" countries, have nothing in common with real socialism. Real economic growth was in SU in 1930s.

يعتبر تحقيق النمو الاقتصادي من الأهداف الإستراتيجية لصانعي السياسات الاقتصادية في اي نظام اقتصادي لكن ما يصنع الفارق ليس بالضرورة النظام الراسمالي او الإشتراكي او المزج بينهما بل هو مرتبط بتوفر متظومة مؤسساتية متكاملة تشمل الاطر القانوتية والسياسية والإقتصادية والإجتماعية والثقافية تجعل من الفرد المحور الاساسي للعملية

Martha Pantoja Thanks for your unique perspective on the subject. Well appreciated!!!

Hello Seyi:

It is important to mention that the economic model directed by a Nomenclature (after the Second World War until 1990) as was the case of the Eastern European countries, did not achieve the objectives set. At this moment I do not have the data, if at least it managed to reduce the inequality gaps

Both socialism and capitalism have lost the proposed character and have merged into one another with merits and evils of both the systems. Compromise of the two is less painful for the people and desirable for development n welfare if corruption could be limited to a lower degree.

Umesh Upadhyaya Thanks for your candid perspective on the subject matter. Well appreciated!!!

Thnq v much Seyi for the appreciation

اشكالية النمو الاقتصادي ليست مرتبطة بالضرورة بانظام الإقتصادي راسمالي او اشتراكي او الهجين

بل هي مسالة استخدام عقلاني للموارد المتاحة في ظل منظومة حكم رشيدة تستندا لمبادئ حكم عادل ومشاركة وارادة حقيقية لبلوغ الاهداف

عبد الناصر نونة Thanks for your apt contribution. My best regards!!!

The question of whether capitalism, socialism, or a mixed economic system is better for achieving rapid national economic growth and development is a complex and debated topic. Different countries have adopted various economic systems, and the effectiveness of each depends on a variety of factors, including historical, cultural, and political context. Here's a brief overview of each economic system and its potential strengths and weaknesses:

Ultimately, there is no one-size-fits-all answer to which economic system is better for rapid national economic growth and development. Successful economic policies depend on a country's unique circumstances, goals, and values. Many countries adopt mixed economic systems that incorporate elements of both capitalism and socialism to strike a balance between economic growth and social welfare. The effectiveness of any economic system also depends on good governance, the rule of law, infrastructure, education, and other factors that support economic development.

Sobur Setiaman Thanks for your elucidating contribution. Best regards!!!

Definitely, to achieve rapid economic growth and economic development is necessary government intervention. It needs a drive, We are talking about a mixed economic policy.

Martha Pantoja Thanks for your apt comment. Best regards!!!

CADA SOCIEDADE DEVE SER SOBERANA PARA DECIDIR POR SI PRÓPRIA, SEU MODO DE GOVERNO, SEMPRE VIA ORGANIZAÇÕES SOCIAIS, SINDICATOS, PARTIDOS, TODOS JUNTOS, INDIVIDUALMENTE NINGUÉM RESOLVE NADA...