Middle east many countries nationalize their oil industry Saudi Arabia and

Middle east many countries nationalize their oil

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Middle east many countries nationalize their oil industry Saudi Arabia and Kuwait specifically social good outweighs Russias oil was in private hands but they had a communist revolution they nationalized the oil industry 1990 soviet union collapsed they then privatized the oil industry a decade later putin re nationalized the oil making trillions Privatization is the current trend mostly due to shifting economic systems due to Russia switching to capitalism and so has china the wildwest of capitalism socialist India in the last decade has given businesses to private industry and taxes them to make more money Big corporations have gotten really big and have a lot of power and exert a lot of pressure on government Nationalization Venezuela, US president George bush and Obama nationalized failing businesses and heavily regulating healthcare World Economic Examples No true communist states Cuba and North Korea still claim it and are trying to do it but no body works in the countries huge underground blackmarket of capitalism below them helping them Venezuela is also pretty far left Saudi Arabia politically are on the right but economically towards the left does control all of the oil in the country in the name of the people it is all free in Saudi Arabia free college even Bruenei the whole country sits on an oil well and the country makes trillions everything is free here
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Socialism Sweden and other European countries provide a lot of benefits how does Sweden pay for this Sweden tax the living bejeezus out of the citizens the income tax rate in 25-35% and give it back to the citizens in various ways China tried communism but now are on a right side economy have privatized andtaxed Russia has fllowed in chinas footsteps so has india Capitalism the United Kingdom Adaam Smith the wealth of nations book author Germany do not like thegovt to touch their economy biggest fans of free trade in the world United States of America is no where near the top 10 for benefits for people us govt stays away from business as much as possible the richest country on planet earth
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