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China has certainly achieved an amazing increase in wealth through its combination of authoritarianism and free market capitalism. But given they were Communist
by klipt 4y ago
China has certainly achieved an amazing increase in wealth through its combination of authoritarianism and free market capitalism. But given they were Communist before, that's clearly a case of authoritarians adopting capitalism, not capitalists adopting authoritarianism.
- rbanffy 4y agoHistory happens over long timespans: the fact we haven't seen one doesn't mean our children won't. You may be right in that it's easier to introduce capitalist practices into a highly ordered and controlled economy than the other way around - when capitalist countries face regulatory capture (as a proxy for authoritarianism, because there is still a "democracy" element, the efficiency of their economies seem to suffer while the oligarchs who effectively captured the state reap the benefits of increasing inequality. It feels like that last path is inherently unstable, but history will answer that as well.