Can there be a middle economic way between capitalism and socialism (Russia), or capitalism and communism (China)? What tends to happen when you try such a path?© BrainMass Inc. brainmass.com October 1, 2020, 11:49 pm ad1c9bdddf
Let's take a closer look. I also attached a supporting article for further reading, from which this response is drawn.
Capitalism is an economic system that meets economic goals by private enterprise and initiative, subject to the supremacy of the public's buying and abstention from buying on the market. All types of socialism and communism argue that "the market economy or capitalism is a system that hurts the vital interests of the immense majority of people for the sole benefit of a small minority of rugged individualists. It condemns the masses to progressing impoverishment. It brings about misery, slavery, oppression, ...
The solution discusses the middle economic way between capitalism and communism.