Global Economy
Out of context: Reply #32
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If you take a closer look at capitalist vs socialist or communist you will see there is not as much difference as you might think. In both cases you have a handful of large organizations that dominate each industry. Whats the real difference between a state controlled Chinese bank and Bank of America or JP Morgan? Both are run by elitists with close ties to government, both have oligarchy type control within their industry. And most industries in the U.S. work this way, dominated by a handful of huge corporations.
Sure we have more small businesses and more innovation that countries like China, but how helpful has that been to the overall growth of the economy over the past 20 years? If a capitalist system was dramatically better, wouldn't we be leaving countries like China and Brazil in the dust? How did the Soviet Union successfully compete with us with almost half a century?
At the end of the day, a lot of ideology are just like slogans to rally the team. The success of an economy has more to do with resources, workforce, as well as political and military power.