I would argue in turn that the developed world has strayed pretty far from capitalism and a lot could be done to bring it back
In what respects would you say that the developed world has strayed from capitalism that it suffers for?
I’m extremely skeptical of the idea that “almost all” interactions in capitalist systems tend to be positive sum. Of course, my area of study (environmental science) is one where examples of negative sum interactions crop up on a continual basis, so I may be biased by exposure, but I think economists tend to be more optimistic about the positive influence of free markets than evidence warrants.
Well, moderate as in they don’t have rule of law etc. What I meant to say was that even this level of capitalism has worked wonders in dragging hundreds of millions of people out of poverty. Contrary to decades of Western foreign aid.
In what respects would you say that the developed world has strayed from capitalism that it suffers for?
I’m extremely skeptical of the idea that “almost all” interactions in capitalist systems tend to be positive sum. Of course, my area of study (environmental science) is one where examples of negative sum interactions crop up on a continual basis, so I may be biased by exposure, but I think economists tend to be more optimistic about the positive influence of free markets than evidence warrants.
China should be the best example of what even moderate levels of capitalism can do.
The Communist bloc aren’t know for their environmentally-friendly outcomes or even policies.
They’re not, but I never said that Communism does well, only that Capitalism doesn’t do as well as it’s given credit for.
If China is moderate capitalism, one shudders how would extreme one looks like...
Well, moderate as in they don’t have rule of law etc. What I meant to say was that even this level of capitalism has worked wonders in dragging hundreds of millions of people out of poverty. Contrary to decades of Western foreign aid.