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Actually, the system that produced the greatest standard of living increase in human history is whatever Communist China's been doing for the last century.
by immibis 2y ago
Actually, the system that produced the greatest standard of living increase in human history is whatever Communist China's been doing for the last century.
- rapsey 2y agoCapitalism.
- rmnwski 2y agoAlmost like they made a great leap forward during that century.
- PlaneSploit 2y ago...and they use money so it's capitalism.
- deleted 2y ago[deleted]
- andyferris 2y agoNot century. Mao and communism brought famine and death to millions. The move from that to "capitilism with Chinese characteristics" is what has brought about the greatest standard of living increase in human history. What they're doing now is a mix of socialism, capitilism and CPP dominance. I'm not an American, but I understand FDR wielded socialism too, and that really catapulted the US towards its golden era.
- rapsey 2y agoChinese do capitalism better than anyone else. Chinese companies ruthlessly compete within China to destroy their competition. Their firms barely have profits because everyone is competing so hard against others. Whereas US/EU is full of rent seeking monopolies that used regulatory capture to destroy competition.
- immibis 2y agoWhat you're describing is that China is doing the free market, while the US/EU is doing capitalism.
- ranger_danger 1y agoHow is consistently low profits across the board "better capitalism than anyone else"?