The Awakened Post

Economic systems define how societies allocate resources, distribute wealth, and structure power. The three dominant models capitalism, communism, and socialism each present unique benefits and drawbacks. While capitalism dominates global economics, its flaws, particularly in unequal societies like South Africa, raise questions about sustainability. Meanwhile, South Africa operates a mixed economy, blending market-driven policies with socialist interventions—though corruption and capitalist lobbying often distort its effectiveness.   This article critically examines these economic systems, highlighting their strengths and weaknesses, before analyzing how South Africa’s mixed model functions despite systemic challenges.   1. Capitalism: Profit Over People? Capitalism is an economic system where private entities control production, trade, and industry for profit, with minimal government interference.   Disadvantages of Capitalism: Wealth Inequality – Capital ...

  By Olebogeng Motsanana, As we progress through 2025, the global economy presents a complex landscape shaped by ongoing trade wars, shifting alliances, and evolving economic policies. These dynamics have profound implications not only for nations but also for ordinary citizens worldwide. A Snapshot of the Global Economic Landscape The International Monetary Fund (IMF) projects a global GDP growth of 3.2% for 2025, indicating a modest recovery from previous years' downturns. Advanced economies are expected to grow by 1.5%, while emerging markets may see growth rates around 4.3% . However, these optimistic figures are tempered by the uncertainties introduced by trade conflicts and protectionist policies. Trade Wars: A Double-Edged Sword The resurgence of trade wars, particularly between major economies like the United States and China, has introduced volatility into global markets. In early 2025, the U.S. imposed tariffs averaging 145% on Chinese imports, prompting retaliato...