Capitalism - an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
Democracy - a system of government by the whole population or all the eligible members of a state, typically through elected representatives.
I have been hearing a lot in the recent years about democracy and capitalism. Can a democratic country be a capitalist country at the same time? For example, Singapore. Singapore is a country that relies heavily on trade and investments. Plus most of Singapore's industries are foreign owned. However Singapore calls herself a 'democratic' nation. This is true, where the citizens have to vote for their representative in parliament and etc. However, does this mean that the Singapore government exist to provide welfare to the country or to exist to ensure Singapore's economy growth?
Sorry for the long question and thanks for answering.