For years economists and governments were telling us that the free enterprise system was by far the most efficient and centrally planned economies had no chance of competing.
The collapse of the socialist states of USSR and satellites in E. Europe some years ago, was proof of that, although I always thought it had more to do with the trade boycott we imposed on them than anything else.
But now semi-planned India and communist China are surpassing our economic growth not by a little, but 4- fold. Economists are now predicting that both will overtake the US GDP and China will be the next super power. .
Was everything we were told in the past, lies or ignorance?
Do you know of any profession more discredited than economists?
2006-07-04
13:52:38
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4 answers
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asked by
Anonymous