The greatest economy the world has known is the Free Market Economy which after its 100-year run made America in the early 1900’s the greatest, most powerful, and wealthiest nation in the world, the average individual being better off than the average individual anywhere else in the world.
When American companies were still “American”. That ship has sailed.
The greatest economy the world has known is the Free Market Economy which after its 100-year run made America in the early 1900’s the greatest, most powerful, and wealthiest nation in the world, the average individual being better off than the average individual anywhere else in the world.
Another reason for that were those little things called WWI and WWII.
The laws of economics like the physical laws of gravity don’t “sail” away. They remain whether one regards them or not.
Because most nations are run by some version of a command and control economy, most nations break the laws of economics and their citizens are relatively poor and dependent.
Until recently, America was the exception. Contrary to the widespread confusing of politics with economics, the Free Market Economy is apolitical because by definition it is the voluntary cooperation between buyer and seller in their own self interests without government interference.
Everybody except maybe politicians win with the free market economy. It is as Adam Smith wrote about 250 years ago, “The Wealth of Nations” essentially prophesying what was about to happen in America.