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Politics : Formerly About Advanced Micro Devices
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To: J_F_Shepard who wrote (575324)7/26/2010 2:20:46 PM
From: TimF  Read Replies (1) of 1570368
 
.they may have autocrats in power and even dictators but they are mostly not socialist.

Many are either avowedly socialist, or at least believe in the government ownership of a good chunk of the economy. Those that aren't often control the economy through a complex web of regulations, or through giving the business opportunities to the leader's cronies. If those aren't the primary obstacles to wealth creation you have corrupt lower (meaning not the top leadership, not necessarily at the bottom) officials getting in the way (a more diffuse form of control), or you a lack of protection of property rights either by outright violation by the government, or by lack of effort by them, or lack of effectiveness of their efforts.

Btw, the Chinese are socialist and their economy is booming

Its booming largely because they have become so much less socialist. As they opened up their economy started to boom, and the area that boomed most was privately owned businesses. The large old state owned businesses have not overall done as well, and no one (except perhaps people with power in the government and their families, friends, and allies) did as well when everything was more tightly locked under government control.
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