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Strategies & Market Trends : ahhaha's ahs

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To: ahhaha who wrote (7935)	4/7/2006 4:51:08 PM
From: GraceZ	Read Replies (2) of 24758

It will take 20-30 years of growth for China to catch up to the per capita GDP of the US even if we factor in sub par growth for the US and the same stellar growth that China has seen since they finally saw the light and started instituting capitalist reforms. So I'm having a hard time understanding why you think they are making a ton of money while we aren't. Are you measuring the money they make using some other yard stick? I did hear that they built more office space in the last five years than the US has in total. No one doubts that the US has moved far away from it's capitalist roots, towards socialism. The attacks on private property in the past fifty years have eroded our advantage significantly. Yet even with the erosion we still have more rights than they do to choose what we do for a living, where we live and for the most part we are a nation that is subject to the rule of law instead of rule by a committee of capricious old men and petty bureaucrats. When I started my little biz, I did not have to bribe any government official. My compliance with the tax code was largely voluntary. I have the right to take the government to court if it tries to confiscate my property. You play down the importance of property rights for the farmer, all I can say is how much have you spent to improve the rental property that you use to conduct your business out of? As a rule, people don't improve what they don't own even if it means that they will improve their production unless they have some agreement with their landlord to be able to own the improvements or a long term lease. The biggest drag is that without property ownership and clear title, it can't be used as collateral for a loan in order to make improvements. The poorest places on the planet are places which don't have secure enforceable property rights.

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