Can “capitalism survive” and “socialism work” individually? These two hypotheses and discussions travel among economic debates around the world. Austrian Economist Joseph Schumpeter’s work in entrepreneurship and innovation signifies the deviation from traditional or conventional methods of economic activities, particularly in terms of trade and increased quality of life. This article draws attention towards the global thought of social capitalism; and enables enthusiasts in economic affairs and international relations to understand the theoretical overview of this distinctive concept.
Tag: Socialism
Does Journalism Thrive in a Democratic or Communist Regime?
The feeling that you get upon stumbling across a post that has this disclaimer “State-Controlled Media” simply sum up the difference between journalism in a democratic and communist regime. Journalism plays a crucial role in both democratic and communist societies, though the nature of that role can vary significantly. In democratic systems, journalism serves as a vital check on power, holding those in authority accountable and providing citizens with the information they need to make informed decisions. Conversely, in communist regimes, the media is often tightly controlled by the state, with journalism expected to serve as a mouthpiece for the ruling party.