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You know that the "laissez-faire" capitalist alternative in this situation would mean that people starve?
by id 11y ago
You know that the "laissez-faire" capitalist alternative in this situation would mean that people starve?
- tim333 11y agoI'm not sure there's been perfect laissez-fair but if you define it thus: "an economic system in which transactions between private parties are free from government interference such as regulations, privileges, tariffs, and subsidies. " Then the best implementation I've seen was probably Hong Kong under UK governance. They had pretty much zero tariffs, light regulation, no industrial subsidy. The result was one of the fastest growing countries in the world with zero starvation. (16% of US GDP/capita in 1960, 76% in 2016 "According to Index of Economic Freedom, Hong Kong has had the highest degree of economic freedom in the world since the inception of the Index in 1995.")