A review of 'Socialism: The failed idea that never dies'
“Compare the US and the Soviet Union, East and West Germany, North and South Korea, India and China under different forms of socialism versus under different forms of capitalism. In each example, the capitalist country performed far better than the socialist one.
“This is discussed in an interesting new book by Kristian Niemietz, head of political economy at the Institute of Economic Affairs (IEA), entitled “Socialism: the failed idea that never dies”. (As a disclaimer, I am a member of the IEA’s academic panel but was not involved with this book).The main theme describes the attitudes of western left-wing intellectuals towards socialist societies.
“The author covers the Soviet Union, China under Mao Zedong, Cuba, North Korea, Cambodia, Albania, East Germany, and Venezuela.
“Niemietz identifies common trends in how western believers in socialism have reacted to each of these regimes.”
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