Bump.
.
Contrast this confused article with Horowitz's article
The Destructive Romance of the Intellectuals .
The above confused article seems to be doing the best it can to put down Capitalism, attributing its success to accidents of Gold and then the Dollar, that will not stand the test of time. The enormous power of the Chinese economy with its immense labor supply, will stand on its own.
This article fails utterly to grasp what makes Capitalism so strong. Horowitz does grasp this. One quote from his article highlights this:
None of these four revolutionaries still admired by the left had a clue about the critical importance of private property in making political liberty possible. Equally telling, none of them understood the necessity of a capitalist economy to technological progress or to economic well-being. In the last half of the 20th Century, vast masses of humanity -- hundreds of millions in fact -- were lifted out of subsistence poverty in those countries that protected and supported private property and free markets. This liberation of poor people into lives of relative dignity and modest luxury by capitalist economics represents a revolution unprecedented in the 5,000-year history of human societies.
Perhaps the Chinese government wasted some good money on this confused article, in hopes of hearing encouraging words.