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It's interesting that for so long there was conventional wisdom suggesting a large reason the Soviet Union economy failed due to inefficiencies of communism and
by WhitneyLand 9y ago
It's interesting that for so long there was conventional wisdom suggesting a large reason the Soviet Union economy failed due to inefficiencies of communism and oppression.
We now know not only did that not stop China, it's not clear that the ceiling of economic success of their system has been determined.
- rubber_duck 9y agoChina has a market economy - more government controlled and regulated than the west - but it's not centrally planned economy like the Soviet Union. They tried that in the past - google Great Leap Forward to see how it ended up.