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The USSR collapsed because of imbalances caused by decades of centralized planning and control. China survived communism because it implemented free-market ref
by 0xpgm 3y ago
The USSR collapsed because of imbalances caused by decades of centralized planning and control.
China survived communism because it implemented free-market reforms (while retaining centralized control in the political structure).
I'd say generally, the free market is what makes economies work.
Edit: minor rewording
- RHSeeger 3y agoNo, some amount of "free market" leaning is useful. But absolute free markets are catastrophic to society. I'm not aware of any major countries that have an actual free market. They all have laws limiting what companies are allowed to do.