skidicarus

@skidicarus@sh.itjust.works

• ⁨Comment⁩ on ⁨Why does China have so many multi billionaires if they are aiming to be a communist country?⁩ ⁨⁨2⁩ ⁨days⁩ ago⁩:

  I believe so, yes. Other to a the well-documented issues that arose from the information problem, Vivek Chibber has done some recent work on the incentive problems that also plague Soviet-style command economies. …substack.com/…/why-soviet-style-planning-fails

• ⁨Comment⁩ on ⁨Why does China have so many multi billionaires if they are aiming to be a communist country?⁩ ⁨⁨3⁩ ⁨days⁩ ago⁩:

  Not only does it make sense from a global perspective, but it also makes sense economically. China would still be in the gutter if they didn’t have market engagement. The USSR, for example, failed dramatically at trying to have a strictly command-based economy.