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I agree there was some capitalism, as there is components of it in every economy. Similarly, every economy has mixtures of other systems in it. The issue is how
by ChrisLomont 8y ago
I agree there was some capitalism, as there is components of it in every economy. Similarly, every economy has mixtures of other systems in it. The issue is how much of the various systems an economy allows. Certainly Soviet Russia was not considered a capitalist system, whereas most of Western Europe and the US were during that period.
Your link provides a nice graph [1] showing that USSR and many countries that were capitalist had similar GDP per capita in 1913, but diverged wildly over the following years. I suspect academic has such a graph including more countries along with some rating of how the underlying economic system worked. It would be interesting to see that. I am aware of a decent amount of economic literature that does credit capitalism as a major force for pulling billions out of poverty.
Your page seems to back up my point, does it not?
https://en.wikipedia.org/wiki/File:Soviet_Union_USSR_GDP_per_capita.png https://en.wikipedia.org/wiki/File:Soviet_Union_USSR_GDP_per...
- metiscus 8y agoMy reply was intended for the other person who replied to you. For some reason I did not see a reply button so I thought we were at max depth. I believe that the graph does in fact support your conclusions.