The following RT video with Professor Wolff was brought to my attention on China’s stock market dive.
An excellent analysis of how China’s state capitalism suffers from the same problems all capitalist economies suffer from. That they will eventually eat themselves alive no matt how much you try to regulate and control them.
One need only look at our only history to see that this is true. The republican hands off approach of the 1920s lead to the predictable crash of 1929 and depression of the 1930s with the stock market eventually hitting near zero and the entire economy flat lined. It was and is common belief to say that the New Deal legislation of FDR was responsible for getting us out of the depression but the minute FDR tried to balance the budget, the economy nose dived again. It was WWII that brought us out and make no mistake…
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