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How are you thinking about the application of capitalism and capitalism more generally? Here is the definition I'm working from: "private ownership of capital
by neom 3y ago
How are you thinking about the application of capitalism and capitalism more generally?
Here is the definition I'm working from: "private ownership of capital and means of production meets market competition, driving resource efficiency, innovation, and maximizing profit while respond to consumer demand resulting in GDP growth."
If you take that definition then look at the last 100 years, only 4 names come up:
Japan, South Korea, Singapore and Taiwan. No countries in the world in the last 100 years have applied capitalism, then grown, the way those countries have.
I'd be curious how you define capitalism, and then the countries you think have applied it better than the ones I've mentioned in my posts on this subject.
- notdonspaulding 3y ago...and Hong Kong, until it was returned to communist China.
- ben_w 3y agoUK, (West) Germany, Canada. These graphs don't go back 100 years, but they do show fairly similar growth. http://www.wolframalpha.com/input/?i=canada%20gdp%20per%20capita%20%2F%20usa%20gdp%20per%20capita http://www.wolframalpha.com/input/?i=canada%20gdp%20per%20ca... http://www.wolframalpha.com/input/?i=uk%20gdp%20per%20capita%20%2F%20usa%20gdp%20per%20capita http://www.wolframalpha.com/input/?i=uk%20gdp%20per%20capita... http://www.wolframalpha.com/input/?i=germany%20gdp%20per%20capita%20%2F%20usa%20gdp%20per%20capita http://www.wolframalpha.com/input/?i=germany%20gdp%20per%20c... Compared with Japan: http://www.wolframalpha.com/input/?i=japan%20gdp%20per%20capita%20%2F%20usa%20gdp%20per%20capita http://www.wolframalpha.com/input/?i=japan%20gdp%20per%20cap... Only South Korea is the stand-out here: http://www.wolframalpha.com/input/?i=south%20korea%20gdp%20per%20capita%20%2F%20usa%20gdp%20per%20capita http://www.wolframalpha.com/input/?i=south%20korea%20gdp%20p...