CUBAN DOCTORS, COMMUNISM VERSUS SOCIALISM, AND NORTH KOREA VERSUS INDIA

Donghyun Park

Chapter 3 in Capitalism in the 21st Century:Why Global Capitalism Is Broken and How It Can Be Fixed, 2019, pp 15-18 from World Scientific Publishing Co. Pte. Ltd.

Abstract: To be fair, socialism is not without its attractions. Otherwise, an economic system as inefficient, dehumanizing, and morally bankrupt as socialism could not last for decades and enslave a good share of humanity. For sure, the secret police — for example, the infamous Stasi of East Germany, which spied on the entire population, primarily through a vast network of ordinary citizens turned informants — and a general political climate of fear and intimidation — for political prisoners, being sent to Siberian gulags or forced labor camps was a relatively mild form of punishment — played a major role in stifling dissent and sustaining the system. But even so, one has to admit there were some material benefits to living in a socialist country, as paradoxical as this sounds. More specifically, a sense of economic security — the universal provision of housing, health care, education, pension, and other basic social services — was largely responsible for the puzzlingly long survival of socialism…

Keywords: Capitalism; Globalization; Inequality; Entrepreneur; Financial Industry; Government; Socialism; Market (search for similar items in EconPapers)
JEL-codes: A1 F00 F6 N2 P16 (search for similar items in EconPapers)
Date: 2019
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