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PRC economic boom followed a massive investment in infrastructure and government-led development plan, taking Stalin's 5-year plans as an example, and Keynes de
by orwin 9mo ago
PRC economic boom followed a massive investment in infrastructure and government-led development plan, taking Stalin's 5-year plans as an example, and Keynes demand-side economics as a functional economic theory (unlike the USSR who chose to ignore non-marxist economists basically). It is replicable on a smaller scale, but you need huge initial investment (or slave labour).
- maxglute 9mo ago> smaller scale Quantity has a quality of it's own. The sheer quantity of massive country agglomeration effects is what makes PRC system not replicable, i.e. you need country with 800 million people to sustain 500m "modern" workforce that can optimize for every industrial cluster that becomes mutually reinforcing. This not something smaller countries (i.e not PRC or India) can invest of enslave their way into. Current PRC is a model predicated off cultivating and integrating 800 million people into an all domain supercluster, that population scale is an initial investment gate.