0 sats \ 6 replies \ @Solomonsatoshi 20 Oct \ parent \ on: Who is your favorite Science Fiction Author? BooksAndArticles
Chinas economy has grown faster than any comparable.
Yes a government that has the interests of the wider economy can theoretically promote and stimulate the economy- this is proven without any doubt through history for example in post Mao China- the growth of the Chinese economy is a result of strategic development of infrastructure and controlled allowance of competition and private ownership.
Without centralised management and development markets will crash, cartels and monopolies will form, price fixing market rigging will occur...this was pointed out by Adam Smith but I guess you have not read his full works...
OK, if you say so.
reply
Ok, as you can't refute it.
reply
No, OK, because it is not worth even trying to refute it. In China, it was the Dengist movement that did the heavy economic lifting.
reply
Yes Deng opened China up to trade and exchange with the world- that was a huge driving factor in the astounding growth of the Chinese economy- but the planned progression of the opening and internal reconfiguration, allowing managed competition and huge investment in infrastructure and diplomacy were also very important and led by the CCP politburo.
reply
Every “planned” and/or “managed” economy has failed, every last one. It is like the communist “planned paradise” that never quite makes its way into reality. What comes of these things is a lot of dead meat.
reply
Agree that once an economy has developed above a certain level more and more freedom needs to be allowed in its markets as they become increasingly complex. But am also a believer in the mixed economy- one where there is some government provision of large scale strategic planning and infrastructure and that this is especially important in a developing economy. China has demonstrated one of the most exceptional economic developments in human history by using this mixed approach. The heyday of the US economy was similarly a mix of government involvement and private capital. When either government involvement or private capital gain too much of a dominance things can go wrong. Important to remember nation state economies are human collective competing with each other for resources and markets and the government is an important strategic player in that competition.
reply