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You are right to point out that such places don't exist. But it's worth remembering that the US was wealthy (and increasingly so) long before Keynes dressed up
by cltby 6y ago
You are right to point out that such places don't exist. But it's worth remembering that the US was wealthy (and increasingly so) long before Keynes dressed up playground fairness as an academic discipline. Rich societies enable the existence of big government, not the other way around.
- nouveaux 6y agoPrior to Keynes, the US built it's wealth on slave labor. The cost for human rights is high.
- cltby 6y agoThere is a strong consensus among economic historians that slavery didn't move the needle that much. Cotton production was perhaps 5% of GDP. The slave stock constituted perhaps 15% of national wealth. https://sci-hub.tw/10.1016/j.eeh.2017.12.002 https://sci-hub.tw/10.1016/j.eeh.2017.12.002
- michaelmrose 6y agoSlavery wasn't an evenly distributed affair.