Re: Is socialism a good thing in moderation?

The real GDP per capita (growth rate) of an economy is often used as
an indicator of the average standard of living of individuals in that
country, and economic growth is therefore often seen as indicating an
increase in the average standard of living. However, there are some
problems in using growth in GDP per capita to measure the general well-
being of a country´s population. In fact, GDP was first developed by
Simon Kuznets for a US Congress report in 1934, who immediately said
not to use it as a measure for welfare. First, GDP per capita does not
provide much information relevant to the distribution of income in a
country. Second, GDP per capita does not take into account negative
externalities such as pollution consequent to economic growth. Third,
GDP per capita does not take into account positive externalities that
may result from services such as education and health. Finally, GDP
per capita excludes the value of all the activities that take place
outside of the market place such as free leisure activities or less
positive activities like organized crime.

On Jun 6, 3:24 am, Just Plain Jim <chinab...@gmail.com> wrote:
> I lived in a country, the USA that wears its capitalism on its sleeve.
> That is till the last six years were I now live in the PRC, commonly
> known as China, a retired vet working part time here.
>
> What I have learned over these years is that major industries and
> services are jointly owned by the government and private enterprise,
> and that small businesses are privately owned.
>
> This seems to have created a check and balance system within big
> business where the good of the country and private investors is
> protected while encouraging competition.  They have also seemed to
> have created a system that allows small businesses flourish. This has
> also created shared profits where the tax burden on the people seem to
> be far less.
>
> While the political and social impacts are obvious in their system,
> nevertheless this is not about that, this is about an economic system
> that enjoys 9% growth for the last few decades and that I believe we
> should take a few pages out of their economic playbook and learn to
> beat them at their own game.
>
> What are your thoughts?

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