For almost latter half of the 20th century, capitalism remained at war against communism. The former declared itself protector of people’s rights and economic liberty while the latter brought up the slogan of communal sharing for collective benefits. Both the systems possessed merits and demerits. However, the former survived while the latter collapsed out of its true form. The former dominated and the latter got marginalized. Out of the two, a new ism emerged. It carried the economic principles of capitalism and social principles of communism. The states which adopted this new ism are Scandinavian. These states are now called the most welfare states of the world.
Now, when the world recognizes the welfare of Democratic Socialism in Scandinavia, it needs to follow it at least to the extent of collective welfare. With democratic socialism, world can avoid the evils of capitalism and disadvantages of communism. With this very system, world can have free economy along with collective welfare. But, there are a few who might give it a thought. The world politics is much more concerned about realism now than it has relation with welfare. If not the developed states then at least the developing nations of Africa, Asia and South America need to study the models of Scandinavian democratic socialism. They need to infuse the principles of this ism into their own local setups. This might not be the ideal way towards betterment but a much more promising experiment.