The Battle Between Socialism and Free Market Democracy in Today's Globalism

The global battle between socialism and free market democracy is intensified by the impact of globalism, showcasing significant economic progress alongside wealth concentration among a few and leaving a large number feeling economically disadvantaged. The push for socialist practices as a solution to current market inequalities is evident in various countries including India, Mexico, the US, and the UK. This push is fueled by perceived economic excess for the few at the expense of the majority, leading to activism against free market principles and advocating for tax and spending policies favoring redistribution. However, there are concerns that such socialist practices may hinder economic growth through bureaucratic inefficiencies and unsustainable taxation policies, despite the necessity of taxes to address budget deficits.