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Saturday, April 9, 2016

Capitalism vs. socialism in one chart: South Korea vs. Venezuela edition

If you are trying to make a point about statism vs. democratic capitalism, comparing the fortunes of North and South Korea is an easy and effective way to make it. Agreat natural experiment. (Just compare night-time satellite photos of the Korean peninsula.) One a modern, advanced economy. The other a hellhole. Same people, same geography, different political economy. The K-pop Korea is definitely the one you would want to live in.

http://www.aei.org/publication/capitalism-vs-socialism-in-one-chart-south-korea-vs-venezuela-edition/?utm_source=facebook&utm_medium=social&utm_campaign=pethokoukissknk

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