Re:Timothy Snyder on How the Collapse of the Soviet Union To...
by mopsi on Sunday September 22, 2024 @06:36AM
(#41616105)
> Can you give an example of a country that started poor, adopted laissez-faire capitalism, and became a prosperous nation?
Most of Eastern Europe. In the early 1990s, average wages were ~30 USD per month, that is, less than dollar a day. Now they are rapidly catching up with Western Europe.
Laissez-faire capitalism wasn't a choice, but the only responsible option left when you have no meaningful national economy. People were told that the state budget is empty and there's no money to hand out, and that they have to find a way to survive on their own. And they did.
Most of Eastern Europe. In the early 1990s, average wages were ~30 USD per month, that is, less than dollar a day. Now they are rapidly catching up with Western Europe.
Laissez-faire capitalism wasn't a choice, but the only responsible option left when you have no meaningful national economy. People were told that the state budget is empty and there's no money to hand out, and that they have to find a way to survive on their own. And they did.