Communism vs capitalism, quantified in one table.

Obviously there are different communisms and different capitalisms, different histories and different cultures, and many variations in individual experience (monetary and non-monetary). So information is lost in projecting all that down to just one number. But there’s definitely something to this capitalism thing.

A factor of 10-20 difference in money necessitates a very strong counterargument.

  • Not just “Money isn’t everything”,
  • not just “Selfishness is bad because it is”,
  • not just “But the Great Recession”,
  • not just “Banksters”,
  • not just “Economic theories neglect stuff”.

Something about the disorderly price system is working; we think we have some vague sketches of why; that’s not an argument for predatory, parasitic, dog-eat-dog, regulatory-capture free markets; but it does suggest that ≥some aspects of capitalism are worth using.

via @delong


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