that’s right lutnick, keep people guessing as the world dumps us bonds. this is it, people: the world’s richest economic powerhouse is tearing itself apart to satisfy the fantasies of a hate-filled dotard. the collapse of the us is the most spectacular self immolation in history.

I also believe that the human element might be a problem with communism. One of the ingenious things about capitalism is that it takes a terrible vice - greed - and yokes it for everyone’s benefit. I believe that our system is out of whack, though. The degree of inequality that we tolerate is outrageous - these days, the richest scoop up all the benefits and leave the workers only enough to survive (or less). The fact that 3 men control more wealth than the poorest 175,000,000 other Americans is offensive - especially when you consider that the poorest have no homes or food. It’s even worse when you look beyond American borders.

Thanks for the reply! The article you linked was very interesting. I am aware that western propaganda emphasizes the challenges and failures of communism while sweeping the manifold problems with capitalism under the rug, and it is nice to consider a different viewpoint. There is also an unfair tendency among western philosophers to link authoritarianism with communism when there is no philosophical connection. My personal belief is that authoritarianism was already pervasive in imperial Russia and China, and that better explains the brutality that has been unfairly associated with communism.

I would also like to say that capitalism is way less efficient than people are led to believe - take fast fashion, for example. Excess shoes and clothes are constantly being dumped on developing countries because the manufacturers failed to find a buyer at any price.

OP didn’t respond so I will take a shot. My understanding is that under communism, the economy has to be planned by the government. Under capitalism, the price of shoes (for example) is usually determined by the demand for shoes and the amount of shoes that can be manufactured. If demand falls, the price falls. If manufacturing capacity increases, the price falls more, etc. This mechanism has feedback loops that make it efficient. In theory, companies never make more shoes than they can sell, because if they do make too many, they can sell the excess by cutting prices. Under communism there is no free market, so the mechanics of supply and demand don’t work. Some communist bureaucrat conducts a study and estimates that the country will need 100k pairs of shoes next quarter. The government then makes those shoes in a state-owned factory. Suppose, though, that it turns out that the country needed more. With no free market, there is no competitor to step in and meet the demand for shoes - now you have a shortage. Similarly, you can have considerable waste if you grow too many apples or whatever. In true communism, there is no price to adjust - you either have an apple voucher or you don’t. Thus there is generally more problems meeting demand efficiently. This is, in fact, exactly what we saw under the Soviet Union - the stores were often stuffed with unwanted items while long lines developed for items that were in high demand. Without any consideration of authoritarianism etc., this is an often-cited reason for the failure of communism.

I am not a political theorist or an economist, so please correct me if I am wrong.