China and Russia were 100% communist under Stalin and Mao.
After 40 years people finally realized it was the worst system for prosperity.
Now Russia has flat income tax.
And China has one million NEW millionaires.
USA is going in the direction what China was.
China is going in the direction what USA was.
Huckabee just camr back from a vacation in China.
He spoke today on his TV show exactly what I have known for 15 years.
I was on vacation in Singapore a few months back. It has raw capitalism in progress. No food stamps, no unemployment checks, and low taxes on businesses. Their unemployment rate is -40%. Which means they have 40% more jobs than citizens of working age. In a country of 3.5 million, Singapore imports 2 Million foreign workers on 2 year work permits, if they have job offers for which no Singapore citizen is available.
25% of Singapore’s major company shares are state owned. Compare with Germany at 11 %, and the US less. Singapore also has a huge state owned SFW which is antithetical to laissez-faire capitalism.
Singapore is a good example of modern feudalism. The ruling family controls everything and if you criticize them you will go to jail.
It is not capitalism at all, and if you think it is, you don’t understand capitalism.
Most Freepers wouldn’t do well there.
http://www.voxeu.org/article/state-owned-enterprises-global-economy-reason-concern