I know that I sometimes bring up the fact that the Free Market is anything but free and that unbridled Capitalism is a bad thing. I stand by that, which is why I have ever argued that a balanced economy is the way forward, where free-ish markets are allowed to handle what they do well and the government manages (allbeit not very efficiently) those things that should not be subject to the whims of the market because they are an essential service for society as a whole (utilities and infrastructure).
However, these two short reports from North Korea show the flip side to an 'American' style of economy; a 'planned' one riddled with corruption and structural inefficiency:
http://news.bbc.co.uk/1/hi/programmes/newsnight/8711895.stm
http://news.bbc.co.uk/1/hi/programmes/newsnight/8720870.stm
I hope these are viewable for our trans-Atlantic cousins as they really are very revealing of the pitfalls of ideologically lead central planning for all aspects of an economy. I feel truly sorry for those poor people trapped in that so completely ravaged country.
However, these two short reports from North Korea show the flip side to an 'American' style of economy; a 'planned' one riddled with corruption and structural inefficiency:
http://news.bbc.co.uk/1/hi/programmes/newsnight/8711895.stm
http://news.bbc.co.uk/1/hi/programmes/newsnight/8720870.stm
I hope these are viewable for our trans-Atlantic cousins as they really are very revealing of the pitfalls of ideologically lead central planning for all aspects of an economy. I feel truly sorry for those poor people trapped in that so completely ravaged country.