Capitalism is not the only economic system from "summary" of 23 Things They Don't Tell You About Capitalism by Ha-Joon Chang
It is commonly assumed that capitalism is the only economic system that works. However, this is not entirely true. There are other economic systems that have been successful in different parts of the world. For example, in parts of Scandinavia, there is a system known as the Nordic model, which combines elements of capitalism and socialism. This system has been successful in providing a high standard of living for its citizens while also ensuring social welfare. In the case of Japan, the country has adopted a system known as state-guided capitalism. This system involves close cooperation between the government and businesses, with the government playing a significant role in shaping the direction of the economy. This has allowed Japan to become a major economic power and a...
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