4 ms·
> The simple truth is China would not have been able to achieve the scale of productivity and growth that it has In plan economy, controlled corruption is a fe
by type0 3y ago
> The simple truth is China would not have been able to achieve the scale of productivity and growth that it has
In plan economy, controlled corruption is a feature not a bug
- keepamovin 3y agoCan you explain more? What's the theory or practice behind corruption adding benefit to the extent that you want to work it in?
- sneed-oil 3y agoIt lets entrepreneurs bypass bureaucracy
- keepamovin 3y agoGood point. Makes sense. Doesn't that mean West will need to either: loosen regulations, or permit corruption to, if it's going to compete? Maybe the whole "VC industry" is essentially a form of "organized corruption" ha! sometimes I guess I think so... :) haha