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Politics : Formerly About Advanced Micro Devices
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To: Brumar89 who wrote (937525)5/30/2016 11:30:52 AM
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QOTD: "In 1945, both Germany and Korea were divided into two areas, one under western, capitalist control, and one under communist control. Four decades later, West Germany and South Korea were thriving, first-world countries, creating wealth and spreading it widely across the socioeconomic spectrum. East Germany (which disappeared in 1989) and North Korea (unfortunately still with us) were hellholes of poverty and tyranny.

Today we have another natural experiment testing whether socialism or capitalism works better. In 1973, Chile was rescued from communism under Salvador Allende with a military coup and economic (and eventually political) reforms began. At that point Chile’s economic freedom as among the lowest in the world. Venezuela’s in 1975 was among the highest. Today the economic freedom of the two countries is reversed. So are their economic situations. In the 41 years since 1975, the Venezuelan economy has shrunk by 17 percent. Chile’s has grown by 287 percent. By virtually every measure Chile’s situation has radically improved, while Venezuela’s has sharply deteriorated." -- John Steele Gordon, "Capitalism v. Socialism"

https://www.commentarymagazine.com/american-society/economy/capitalism-v-socialism/
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