Chicago Boys

[ironchef]

China has been under one form of totalitarian government or another for 5000 years so the people are used to it and know how to make money under any system.

Communism is not that different a political system than the dynasties of the past. My Chinese friends told me 30 years ago: Capitalism is in their blood and communism will not change that.

 

[OddTrader]

Probable result: Some wealthy citizens and Poor Nation.

The National Debt Clock in 2011 calculated the total national debt to be approximately $14.3 trillion. As of Oct. 11, 2013, the U.S. Treasury places the debt at $14.7 trillion. Photo by Wikimedia user Benoît Prieur

If the U.S. defaults, the New York National Debt Clock will stop


BY News Desk October 16, 2013

http://www.pbs.org/newshour/rundown/if-the-us-defaults-the-new-york-national-debt-clock-will-stop/

 

[OddTrader]

AFAIK, without computer modelling and simulation, the old schools of conventional economists could encounter a serious problem hidden here :

The Limits to Growth is a 1972 book about the computer simulation of exponential economic and population growth with finite resource supplies.[1] Funded by the Volkswagen Foundation[2] and commissioned by the Club of Rome, it was first presented at the St. Gallen Symposium. Its authors were Donella H. Meadows, Dennis L. Meadows, Jørgen Randers, and William W. Behrens III. The book used the World3 model to simulate[3][4] the consequence of interactions between the Earth's and human systems.

https://en.wikipedia.org/wiki/The_Limits_to_Growth

In 2016, a report published by the UK All-Party Parliamentary Group on Limits to Growth concluded that "there is unsettling evidence that society is still following the ‘standard run’ of the original study – in which overshoot leads to an eventual collapse of production and living standards".[39] The report also highlights that some issues not well covered in the original 1972 report, such as climate change, present additional challenges for human development.

Already Beyond? Early stage researchers from China and Indonesia with Dennis Meadows

 

[heisenbern]

1. See this thread: https://www.elitetrader.com/et/threads/one-fifth-of-chinas-land-is-polluted.311746/

2. Study this:

3. Connect the dots

heisenbern,

I have unfortunately ( or fortunately) not studied economics.
Now, with your expertise, can you point ways of explaining these phenomena:
How comes that China, has managed to lift out of poverty in the last 10-20 years at least
300 MILLION people, and that , "Capitalism" has in the last 10-20 years SEEMED to have created
more poor people.

Thank you for helping me understand this question, as my lack of economics does not help
in understanding this phenomena.

 

[heisenbern]

Scalia grappling with these ideas, trying to get a handle on definitions. He makes some good points, but not surprisingly shows an incomplete education since he is not a professional economist. What is interesting is he knows that it is the axioms that lead people astray, but doesn't know [some of] his own axioms are flawed, or missing altogether [see post above]. Even the title is flawed.

Is Capitalism or Socialism More Conducive to Christian Virtue? | Justice Antonin Scalia

 

[OddTrader]

AFAIK, Chinese invest in overseas in farmlands would be probably because they can get better returns due to water supply and cheat labour/land, relatively. All the water/labour/land in China nowadays are no longer cheap for farming anymore.

Yes, they do have water quality and land pollution problems that are pending for solutions. I hope they can resolve that kind of problematic issues soonest better. Historically, many developed countries could have similar problems during their economic development process. Perhaps much smaller scale.

BTW, perhaps it would be much better for you to provide us at lease a summary that you would like to get our comments for individual videos after you watched them yourself.

Especially, the full title of the video that can be searchable in order for us to get other people's comments by Googling. Just 2 cents.

 

[heisenbern]

....
BTW, perhaps it would be much better for you to provide us at lease a summary that you would like to get our comments for individual videos after you watched them yourself...

I don't post things for others, but for myself as reference. However, deep down inside I am hopeful that I reach people that are as curious as I am, and to extend and wrestle with the issues facing humanity.

Furthermore, I prefer not to add commentary [at least initially], since I would be adding to the "bias" of the video, twice.

Take the time to view them. The worst that will happen is that you will disagree with them, and then post your contrary views. The goal of the videos isn't gospel, but a starting point for reasoned debate.

 

[Optionpro007]

I don't post things for others, but for myself as reference. However, deep down inside I am hopeful that I reach people that are as curious as I am, and to extend and wrestle with the issues facing humanity.

Furthermore, I prefer not to add commentary [at least initially], since I would be adding to the "bias" of the video, twice.

Take the time to view them. The worst that will happen is that you will disagree with them, and then post your contrary views. The goal of the videos isn't gospel, but a starting point for reasoned debate.

Keeping your videos at less than 5 minutes might work for most people. If they are longer, you might want to write up a synopsis (if you are really interested in starting a discussion on the subject). Just a friendly thought.

 

[heisenbern]

Keeping your videos at less than 5 minutes might work for most people. If they are longer, you might want to write up a synopsis (if you are really interested in starting a discussion on the subject). Just a friendly thought.

I agree to a certain extent. I wish the person making the video would go through the trouble of doing the "preview version" that highlights the main points. Then I would post both one on top of the other.

On the other hand, many of us have become part of the "Cliff Notes" country.

 

[motif]

Scalia grappling with these ideas, trying to get a handle on definitions. He makes some good points, but not surprisingly shows an incomplete education since he is not a professional economist. What is interesting is he knows that it is the axioms that lead people astray, but doesn't know [some of] his own axioms are flawed, or missing altogether [see post above]. Even the title is flawed.

Is Capitalism or Socialism More Conducive to Christian Virtue? | Justice Antonin Scalia

Another leftist trying to spread more propaganda at ET? Big surprise here.

zzzzzzzz