Mog
Favorite Answer
More poverty and richer rich people
Anonymous
Going there in June this year I will ask around then
Anonymous
Bulgaria was communist, not capitalist, for almost 50 years until the fall of the Soviet Union in the 90's. At that point, industry was denationalized and private ownership was restored. However, all that had been owned and operated by the government on behalf of the people – factories, stores, housing, etc. – in the communist structure wasn't then equally disseminated to the people in the way of stock ownership or anything like that, but instead, a handful of oligarchs seized ownership of nearly everything.
An oligarchy has the ostensible appearance of capitalism because of private ownership and the existence of a seeming free market, but it is not true capitalism because the market is not actually free as the oligarchs monopolize resources. Monopolies are counter-capitalism as capitalism relies on a theoretically infinite number of suppliers in order for the law of supply and demand to function through competition to create an economy in which demands are met at the lowest, most efficient price while the labor market fetches a fair wage based also off of competition between a theoretically infinite number of employers rather than having wages fixed at below market value by the few oligarchs whom nearly everyone ultimately works for.
So to say that Bulgaria is "capitalist" is a misnomer. In order to become truly capitalist, the oligarchy must be overthrown. Someone must come in and do what should've been done in the 90's and redistributed the publicly owned resources under communism to the public at large, giving people ownership over where they lived instead of making them renters in buildings bequeathed to oligarchs, giving them stock ownership in the country's industries instead of bequeathing those industries to oligarchs, so that any value in production created by labor above and beyond the wage paid to labor would return to the citizenry as stockholders, as personal property, instead of aggregately becoming the personal property of oligarchs in order to make the oligarchs even richer and more powerful. Distributing what was publicly owned to the public would create a massive middle class in Bulgaria and heat up its economy so that new business and new industry could thrive and the economy could move more towards that theoretical infinite number of suppliers, because the problem with an impoverished population is they spend very little, and when little is spent, little is earned, and it becomes a downward cycle where there is almost no economy at all, which leads to exploitation of that poverty by paying slave wages in order to sell production overseas, which is where the few rich continue making their wealth and accumulating their power.