alt Hacker News> There are less people starving now than ever now
I see no reason to attribute that to capitalism. Capitalist and non capitalist societies had famines, and capitalist and non capitalist societies industrialized and improved people's material conditions - by raw number of people, non capitalist societies did this for more people.
The PRC indeed has opened their markets, and now has capital allocation issues - their initial chip development programs failed because of market viability issues, and for whatever reason their government didn't put the communism hat on and just nationalize the entire industry like it's done for other ones. More evidence against the supposed increase efficiency and outcomes of privatization and market based R&D and incentives.
North Korea seems to be failing less because of its economic system and more because the entire nation is a cult with a horrifying political system.
It seems quite literally all economic strife in Cuba is due to American sanctions - and in spite of these they still have a lower infant mortality rate than the Americans and make breakthroug medical discoveries.
So again, given the evidence, it seems capitalism is, at best, equally viable to whatever the Soviets and PRC did, in terms of allocating resources and lifting people out of poverty.
Given that we probably all will run out of ways to justify our existence under capitalism through selling our labor within our lifetimes, it seems like a very good time to start considering alternatives. Capitalism has no answer to the question, "what do you do with people when you have an 80% unemployment rate?"
> by raw number of people, non capitalist societies did this for more people.
That's completely false. Please take your time to verify it, I hope that getting your facts straight will make you reconsider your position (and not get mad at facts).
> The PRC indeed has opened their markets, and now has capital allocation issues - their initial chip development programs failed because of market viability issues, and for whatever reason their government didn't put the communism hat on and just nationalize the entire industry like it's done for other ones.
Don't you think that this argument does not make much sense? If the solution is that easy and has been done numerous times, why would they not do it again? Maybe the real answer is that it's just hard problem, and hard problems take time and serendipity.
> It seems quite literally all economic strife in Cuba is due to American sanctions - and in spite of these they still have a lower infant mortality rate than the Americans and make breakthroug medical discoveries.
But why would they need global trade? Isn't that one of inventions and consequences of capitalism? I don't think global trade is possible without free markets at all, so if global trade is necessary for prosperity, then so is capitalism. Also note that Cuba has approximately 25% higher infant mortality rate (I ask you again to look at the data; note that Cuba has higher infant mortality even though it has been criticized for artificially reducing their stats, e.g. by reclassifying part of infant deaths to fetal deaths) and their medical breakthroughs are nowhere near what US (or China, which now beats US because they... made market for pharma more free) is doing.
> So again, given the evidence, it seems capitalism is, at best, equally viable to whatever the Soviets and PRC did, in terms of allocating resources and lifting people out of poverty.
Again, that's completely false and PRC has seen biggest reductions of poverty AFTER implementing market reforms!