In his latest book Capitalism Alone Branko Milanovic makes a provocative claim, namely that for poor countries, socialist systems provide more economic gains than market economies. And when I say socialist systems, I don’t mean the term socialist as used by conservatives in the United States, because what they call socialism is essentially the social democratic status quo in Western Europe as practiced in Scandinavia, Germany, and France. And we know that this system works because the standard of living in these countries is as high if not higher than in the United States when measured as GDP per capita. And if we measure the quality of life with metrics other than GDP per capita but instead the
Is socialism good for the economy?
Is socialism good for the economy?
Is socialism good for the economy?
In his latest book Capitalism Alone Branko Milanovic makes a provocative claim, namely that for poor countries, socialist systems provide more economic gains than market economies. And when I say socialist systems, I don’t mean the term socialist as used by conservatives in the United States, because what they call socialism is essentially the social democratic status quo in Western Europe as practiced in Scandinavia, Germany, and France. And we know that this system works because the standard of living in these countries is as high if not higher than in the United States when measured as GDP per capita. And if we measure the quality of life with metrics other than GDP per capita but instead the