Posted by Lexington Green on May 25th, 2008 (All posts by Lexington Green)
The Russians, Chinese and Indians aren’t just a new collections of fools. They will no more drive humanity off a cliff than we did. With 3 billion new capitalists come 3 billion new answers.
Many will only see needs and demands. Some will see innovation and vision.
One point history makes clear: when markets are allowed to operate, efficiencies emerge. When markets are prevented or perverted (like in the socialist bloc), disaster triumphs.