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Who would've thought Communists would've made the best capitalists? China is a "managed economy" and about as far from "free market" as North Korea[1]. Does it

• White_Wolf 6y ago
  There is no country that doesn't have a managed economy. Trade deals, subsidies, gov sponsoships, immigration restrictions, etc. All these are form of economy management to protect the tax sources and (try) to balance the out/in cash flow. In an ideal world they would not be needed but in todays day and age when countries are not developed equally they are necesary to protect your tax sources and keep the cash flow in the internal economy instead of it being sent somewhere else.
  • AnimalMuppet 6y ago
    > There is no country that doesn't have a managed economy. True, but there's "more managed" and "less managed", and the difference matters. It matters to your ability to make money, and it matters to the economy's ability to actually produce what people want.
    • ClumsyPilot 6y ago
      'Unmanaged' markets must tolerate market failures, companies going bancrupt, disruption in supply chain, etc. There are systems that have to be managed, because if there is a market failure, outcomes will be disasterous. Thats food and water supply, nuclear, essential medicines, energy grid, oil, real estate (?), etc.