You have to separate the effect of the explosion in productive capacity due to industrialization and tech, which increased the value of people’s consumption (the measure of poverty used in the analyses), from the effect of the system for allocating the profits.
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The thing is, those innovations mostly happened in the late 19th and early 20th centuries. It was only in the late 20th century that they began to work for the majority of the world's people.
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So capitalism didn’t reduce poverty until it did. Not a strong endorsement for causality.
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But it is. Until the 60s, most of the world was shackled by colonialism. After that, much of the world shackled itself via communism. First decolonization, then the end of communism freed countries to participate in the global (capitalist) economy, leading them to flourish.
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What’s the data in the Soviet Union then? They achieved very impressive growth thru industrialization before the collapse. Did value of consumption increase for most of the population during that time?
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They first had total economic disaster with mass starvation, then got good growth for a little while, then flatlined in the 70s. All in all, a pretty damn poor performance, if you compare to, say, other European countries.
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But if growth itself is enough to reduce poverty, to any appreciable extent, then my point stands. You have to separate the effects of the two. My claim is a modest one: common ownership of the means of production isn’t inconsistent with lifting people out of poverty
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Are you forgetting the mass starvation step
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Relative poverty really messes with everyone's persepctive.
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The need for clicks messes with everyone's perspective.
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Clickbait wouldn't work without our cognitive biases. It's how I know Obama is going to help me save on auto insurance in IL with these 10 trricks.
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The problem with such statements is the use of the vague term "capitalism". If they said "We need a mixed economy!" you would agree with them. If you look closely at some of the people advocating to "end capitalism", what they want is a mixed economy.
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Seems highly doubtful, more likely they don't know what kind of system they would like and are just kicking out against a world that has annoyed them.
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I don't think her views are perfectly aligned with yours, but I think they are closer than you might think at first. I also don't think this is representative of all "end capitalism" talk. But the views get lumped together because of the vagueness of the term.
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It's a good thing they invented capitalism in 1970 to stop all that extreme poverty
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I assume by "they" you mean the Communist Party of China, and by "invented capitalism" you mean 改革開放.
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Assuming it’s near zero with
@realDonaldTrump at the helm - 1 more reply
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