Capitalist countries have an economic system where individuals or corporations dictate how resources should be used within the economy. Capitalists typically own the resources that the country’s economy couldn’t function without, such as oil. Capitalism is an economic system, not a political one, though the two can be intertwined in the public consciousness, as in the United States.
- United States. The United States is a capitalist country which is rich in natural resources. These resources, such as minerals, timber, and farm land are owned by large corporations. Minerals also include oil and gas. Farmland has been increasingly bought up by large corporations over the last century.
- United Kingdom. In the year 2000, British Petroleum is the United Kingdom’s largest company, employing thousands of people in various capacities. The company owns mineral rights to many places around in the world, such as the US. England was also the birthplace of the industrial revolution—the beginnings of capitalism. The United Kingdom is also Europe’s financial industry leader.
- Japan. Japan is not endowed with a large supply of natural resources, but it has become well know in the auto and technology industries. The Japanese have responded to having little natural resource capital by becoming highly proficient and competitive in auto engineering and the technology sectors. Japan is a capitalist country in which it substituted the growth of natural resource intensive industries in lieu of knowledge intensive industries.
- Germany. Germany is the European Union’s biggest economy. Since 2003, Germany has been in a race with China in export sales, but while the Chinese are known for manufacturing cheap products, the Germans specialize in luxury goods. While the US and the UK hoped to remain competitive in the global capitalist marketplace by reducing worker’s wages, Germany has kept worker’s wages high. Unlike most capitalist countries, German workers also have a voice in corporate decision making.
- Saudi Arabia. Perhaps the most blatant capitalist country, Saudi Arabia was created by the British in order to wrest control of the Arabian peninsula from the Turks. Saudi Arabia is one of the richest countries in the world governed by a feudal monarchy. The capitalist country guarantees a supply of cheap oil to various countries, notably the US. Saudi Arabia is also noted for its human rights abuses.