On China
Random thoughts
Random musings about everything.
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These are unedited versions of my thoughts straight from the mind, a relieve from the ‘pressure cooker’, snippets and flotsam of a mundane existence, collected over time, at the early morning hours at sunrise. I have no intensions to start a self-help group or a forum for complains!
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Random musings about everything.
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Random thoughts 
A very interesting discussion in that both of Professor Wolf’s interpretations of both socialism and capitalism may be theoretically correct but most of us know that practically they were so removed from reality. Cool post. Naked hugs, my Kenyan brother!
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As a citizen of a nation that has had a mixed economy (socialism and capitalism) for more than a century, I tend to agree with Wolff’s evaluation. If you look back in our history, our most rapid growth has occurred when the state was most actively involved in the economy.
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Which is interesting.
I think those who say the state should not be involved in the economy or market are choosing to be blind to the many ways in which the state is involved in the economy
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Even in the so called bastion of capitalism with a capital C, the USA, the state is heavily involved in the economy, except there the politicians play to those who already have insane levels or wealth.
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Exactly. In fact, the state’s involvement is what has enabled some of them to be insanely wealthy
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So true
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“Free market” when it comes to funneling profits to The Owners.
“Socialism” when it comes to who pays the costs and externalities.
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It is exactly as you put it.
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