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Fair is fair: capital is what builds economies, capital wins wars, capital allows culture to form, capital makes resources available. And capital will go where
by LatteLazy 4y ago
Fair is fair: capital is what builds economies, capital wins wars, capital allows culture to form, capital makes resources available. And capital will go where it is best protected.
So a country that lets it's capital get destroyed is pretty much fucked.
This is the fundamental issue with most forms of communism, socialism and theocracy: they're perpetually short of capital.
Places like Northern Europe work very hard to simultaneously protect capital and human assets. And that's good. And we should emulate that. But all to often people try to down grade capital instead of upgrading people.
The places people so often think of as alternatives (Venezuela as a recent example) all too often fall for this error and doom themselves.
- meric 4y agoThe most notable theocracies - Iran and Saudi Arabia, do fairly well compared to the other two forms of government. I wonder why they're do better than one might expect.
- thematrixturtle 4y agoSaudi Arabia is not a theocracy, it's a regular old monarchist dictatorship with some window dressing, and on pretty much any measure they do worse than their capitalist competitors like the UAE or Qatar. Iran, Afghanistan and the Vatican are the only modern theocracies.
- systemvoltage 4y agoOil.
- jl6 4y agoDo fairly well for whom?
- brianwawok 4y agoHaving billions of dollars of black gold gush out of the ground makes many things easy. What happens to them post oil?
- philipov 4y agoI think you are conflating capital with "the capital-owning class" but they are not the same thing.
- LatteLazy 4y agoNot really. If you can keep your capital from fleeing but do away with them then good for you. Cuba and Russia have both made a good stab at that. Saudi too. But again, it's very difficult.