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Response to cstanleytech (Reply #59)

Wed Feb 22, 2012, 12:11 PM

69. can you give me 2 example of countries

where 99% of people are living better than US average living standard?
Please exclude some small countries with enormous oil & gas deposits,
such as Kuwait, Bahrain, Norway etc.

My point is, countries which have tried to equalize incomes have caused
general reduction in living standards....examples: formerly USSR, Mao's China,
Nehru's India, Formerly East Germany, etc. Amazingly, all have improved average
standards of living since accepting nascent capitalism. China created more new
millionaires last year than any other country. Some Indians now boast to be in
the top 10 richest people in the world. No system is perfect but if standards of
living for most people is the criterion, then capitalism has the best historical record.

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