alt Hacker NewsThis is stupid thinking indulged in by westerners who were born in the lap of luxury. The market is incredibly moral. When my dad was born in a village in Bangladesh, 1 out of 4 kids didn’t live past age 5. Thanks to market reforms and the resulting economic growth, child mortality in Bangladesh has plummeted. Bangladesh’s under-5 morality rate is better today than America’s was at the same time my dad was born.
If India and Bangladesh hadn’t fucked around with socialism for decades after independence, we could have reached the same point many years ago. Millions of children would have been saved. Talk about immorality.
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Bangladesh has done well, in difficult circumstances
Market reforms helped. But those reforms could not have happened unless the state did sensible things
Those same market reforms impoverished the entire middle class in New Zealand, where the state did not do sensible things (the reverse)
Markets are good at fully allocating resources, which feudalism and central planning is not. But they also concentrate wealth into the hands of very few (that is what wrecked New Zealand's middle class) and it takes deliberate government policy to avert that.
You mean the Socialism that produces higher quality of life in Scandinavia as compared to to say the US where the oh so moral market decides if you weren't born into the upper end of society you deserve to die of disease and conditions that can be treated?
The market is not moral, it is amoral and it serves those with the money to direct it.
Why don't you ask noted anti-socialism state Pakistan (pre and post-1971) how that's going?
Amazing that advancements in Bangladeshi quality of life is due to only market forces! What an incredibly unique geopolitical phenomenon.