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Do Saudi Arabia, Kuwait or Bahrain really have "intensely planned socialist economies"? I see them more as a bunch of plutocracies, where the oligarchy makes al
by mercurial 11y ago
Do Saudi Arabia, Kuwait or Bahrain really have "intensely planned socialist economies"? I see them more as a bunch of plutocracies, where the oligarchy makes all the money due to ties with the ruling family.
- WildUtah 11y ago" oligarchy makes all the money due to ties with the ruling family." Same as the Soviet Union, Red China, North Korea, Cuba, and so forth. Some people[0] mistakenly say 'socialism' for Western Europe-style social insurance, so I specified "intensely planned." [0] http://www.vox.com/2015/10/31/9650030/denmark-prime-minister-bernie-sanders http://www.vox.com/2015/10/31/9650030/denmark-prime-minister...
- mercurial 11y agoI live in Denmark, I have a fairly good idea of what social-democracy looks like. "Intensely planned" means something like the USSR's five-years plans, and generally comes with state ownership of all companies. As far as I know, that's not what's happening in the Middle-East.
- WildUtah 11y agoI'm glad you understand the difference. As you can see from my link, some people are confused about what socialism is. You need a special personal connection to the insider elites to run major companies in most of the Middle East. The decisions about economic initiatives and major industry are made by a small politbureau, though it isn't called that. A privileged class controls vast wealth and power over the lives of subjects for personal pleasure, though it may or may not be in their own personal names, just like under Communism.