Basically, authoritarian now literally means a government having any say over the economy. I find it really funny that the whole premise of free market capitalism has been that it’s more efficient than state planning, and now these same people are crying how it’s not fair that a planned economy is running circles around their market driven system.
It’s not even the actual premise of free markets, at least according to Adam Smith. The point of free markets is simply to start the process of democratizing the economy. It is more efficient than a feudal economy, but that’s about it. Ideally, it transitions into a state of managed economic growth, controlled primarily by the needs of the people who actually build it.
The idea that free market economies are the ‘most efficient’ was invented pretty much wholesale in 1920’s, as a way to deflect from the fact that the limited-managed wartime economy in WWI was far more efficient than what existed before. A rational explanation on why we had to go back needed to be created.
Right, people promoting free markets never actually read Smith, and pretty sure they’d label him a communist if they did. And the issue isn’t even with markets themselves since they’re just an allocator. The problem is with letting the market decide where things should be allocated instead of doing that intentionally. This is precisely why markets produce useful results within Chinese system, they’re operating within the framework of central plans.
Basically, authoritarian now literally means a government having any say over the economy. I find it really funny that the whole premise of free market capitalism has been that it’s more efficient than state planning, and now these same people are crying how it’s not fair that a planned economy is running circles around their market driven system.
It’s not even the actual premise of free markets, at least according to Adam Smith. The point of free markets is simply to start the process of democratizing the economy. It is more efficient than a feudal economy, but that’s about it. Ideally, it transitions into a state of managed economic growth, controlled primarily by the needs of the people who actually build it.
The idea that free market economies are the ‘most efficient’ was invented pretty much wholesale in 1920’s, as a way to deflect from the fact that the limited-managed wartime economy in WWI was far more efficient than what existed before. A rational explanation on why we had to go back needed to be created.
Right, people promoting free markets never actually read Smith, and pretty sure they’d label him a communist if they did. And the issue isn’t even with markets themselves since they’re just an allocator. The problem is with letting the market decide where things should be allocated instead of doing that intentionally. This is precisely why markets produce useful results within Chinese system, they’re operating within the framework of central plans.