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Charlie Munger summarized capitalism in China at the Daily Journal annual meeting last month-- "A lot of people assume that since England led the industrial re

Charlie Munger summarized capitalism in China at the Daily Journal annual meeting last month-- "A lot of people assume that since England led the industrial revolution and it always had free speech that free speech is required to have a booming economy as prescribed by Adam Smith. But the Chinese have proved you don't need free speech to have a wonderful economy. They just copied Adam Smith and left out the free speech and it worked fine for them." around the 46 minute mark-- https://www.youtube.com/watch?v=Pp4CvjNw-9Y https://www.youtube.com/watch?v=Pp4CvjNw-9Y

VectorLock 6y ago
>They just copied Adam Smith and left out the free speech and it worked fine for them. Seems to be a tried and true formula.
- benatkin 6y ago
  It seems to work within an individual business as well. For Coinbase to come out and say, no political speech unless it's the sort of politics we agree with, and to still be thriving, means it can be curtailed at least somewhat without serious repercussions.
tomarr 6y ago
Perhaps England had some form of free speech but it certainly was not the 'American standard'. There has always been limits - and fairly extensive when it comes to topics posing a threat to the establishment, such as Ireland and the colonies.
antattack 6y ago
Wow, what a sellout. Who is 'them'?
txsoftwaredev 6y ago
Considering in England you can be fined/jailed for speech they are far from having free speech protection. https://en.wikipedia.org/wiki/Hate_speech_laws_in_the_United_Kingdom https://en.wikipedia.org/wiki/Hate_speech_laws_in_the_United...
jariel 6y ago
It worked out wonderfully? For the Tibetans? Uyghurs? The 100's of millions still in poverty? The millions in jail without a proper trial or due process? The 100's of millions breathing toxic air? The 100's of millions unable to access basic information? It's 'worked on some level' and that's about it. Nobody is trying to get 'in' to that system and many would much rather just get out.

VectorLock 6y ago

>They just copied Adam Smith and left out the free speech and it worked fine for them. Seems to be a tried and true formula.

benatkin 6y ago
It seems to work within an individual business as well. For Coinbase to come out and say, no political speech unless it's the sort of politics we agree with, and to still be thriving, means it can be curtailed at least somewhat without serious repercussions.

tomarr 6y ago

Perhaps England had some form of free speech but it certainly was not the 'American standard'. There has always been limits - and fairly extensive when it comes to topics posing a threat to the establishment, such as Ireland and the colonies.

antattack 6y ago

Wow, what a sellout. Who is 'them'?

txsoftwaredev 6y ago

Considering in England you can be fined/jailed for speech they are far from having free speech protection. https://en.wikipedia.org/wiki/Hate_speech_laws_in_the_United_Kingdom https://en.wikipedia.org/wiki/Hate_speech_laws_in_the_United...

jariel 6y ago

It worked out wonderfully? For the Tibetans? Uyghurs? The 100's of millions still in poverty? The millions in jail without a proper trial or due process? The 100's of millions breathing toxic air? The 100's of millions unable to access basic information? It's 'worked on some level' and that's about it. Nobody is trying to get 'in' to that system and many would much rather just get out.