/biz/ - Business & Finance

>>13394642

You say it sucked because you were poor, but the countries that adopted "socialist" policies were even poorer before they adopted these policies, and they industrialized more rapidly than the nations with liberal market economies.

Compare the USSR to Brazil, China to India, Slovenia (or the rest of Yugoslavia before its breakup) to Portugal.

Even East Germany grew faster than West Germany in terms of real GDP and productivity advancement throughout the Cold War. The reason the DDR remained poorer was that it was only about half the size of the Federal Republic, was far more devastated by WWII, and even before the war had no region as industrialized as the Rhine-Ruhr, nor a trade port as important as Hamburg.