4 ms·
When the rich get rich via redistribution of value rather than generation of value, average richness rises after those rich are deposed.
by beaeglebeached 3y ago
When the rich get rich via redistribution of value rather than generation of value, average richness rises after those rich are deposed.
- oh_sigh 3y agoWhat examples are there of that?
- beaeglebeached 3y agoAs crazy as it sounds, the cuban revolution up until the late 80s. While their communist economic system was far from ideal, it saw significant rising GDP/cap vs the days when farm labor were like slaves and their output redistributed to petty farm masters under Batistas favored rich men.
- wavemode 3y agoDo you have a source for that? Most accounts I've read regarding that period talk about massive decreases in food production after the government took over those industries.
- beaeglebeached 3y agotiny.cc/c0jsvz They had a rough first 10 years breaking even vs GDP/c under Batista but there was rapid advancement after that until collapse of the Soviet Union.