2aguy
Diamond Member
- Jul 19, 2014
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here we have the truth...in the long run, and the short run...socialism sucks......
Hanoi s Capitalist Revolution by Michael J. Totten City Journal Summer 2015
The advocates of change won the argument, and in 1986, the government officially abandoned Marxist-Leninist economics and announced the Doi Moi reforms, defined as an attempt to create a “socialist-oriented market economy.” Presumably, party leaders left the word “socialist” in there because they were embarrassed by Marxism’s failures and couldn’t admit that they’d been wrong. Or perhaps they feared that their remaining supporters were allergic to the word “capitalism.” No matter. Vietnam officially junked Communism a mere 11 years after imposing it on South Vietnam.
State subsidies were abolished. Private businesses were allowed to operate again. Businessmen, investors, and employees could keep their profits and wages. Farmers could sell their produce on the open market and keep the proceeds instead of giving them up to the state. The results were spectacular. It took some time for a middle class to emerge, but from 1993 to 2004, the percentage of Vietnamese living in poverty dropped from 60 percent to 20 percent. Before Doi Moi, the command economy contracted, and inflation topped out at over 700 percent; it would eventually shrink to single digits. After years of chronic rice shortages, Vietnam became the world’s second-largest exporter of rice, after Thailand. Progress hasn’t slowed. In 2013, Vietnam’s economy grew by 8.25 percent. “The number of malls, shopping districts, and restaurants is amazing compared with when I was a kid,” says motivational speaker Hoan Do. “Eighteen years ago, the entire country was broken down. There was hardly any technology, but now even poor people can go to an Internet café and log on to Facebook and YouTube.”
of course socialists in general take a long time to learn the truth, reality, right and wrong and good and evil........sadly....American leftists still haven't learned the truth about socialism...
Hanoi s Capitalist Revolution by Michael J. Totten City Journal Summer 2015
The advocates of change won the argument, and in 1986, the government officially abandoned Marxist-Leninist economics and announced the Doi Moi reforms, defined as an attempt to create a “socialist-oriented market economy.” Presumably, party leaders left the word “socialist” in there because they were embarrassed by Marxism’s failures and couldn’t admit that they’d been wrong. Or perhaps they feared that their remaining supporters were allergic to the word “capitalism.” No matter. Vietnam officially junked Communism a mere 11 years after imposing it on South Vietnam.
State subsidies were abolished. Private businesses were allowed to operate again. Businessmen, investors, and employees could keep their profits and wages. Farmers could sell their produce on the open market and keep the proceeds instead of giving them up to the state. The results were spectacular. It took some time for a middle class to emerge, but from 1993 to 2004, the percentage of Vietnamese living in poverty dropped from 60 percent to 20 percent. Before Doi Moi, the command economy contracted, and inflation topped out at over 700 percent; it would eventually shrink to single digits. After years of chronic rice shortages, Vietnam became the world’s second-largest exporter of rice, after Thailand. Progress hasn’t slowed. In 2013, Vietnam’s economy grew by 8.25 percent. “The number of malls, shopping districts, and restaurants is amazing compared with when I was a kid,” says motivational speaker Hoan Do. “Eighteen years ago, the entire country was broken down. There was hardly any technology, but now even poor people can go to an Internet café and log on to Facebook and YouTube.”
of course socialists in general take a long time to learn the truth, reality, right and wrong and good and evil........sadly....American leftists still haven't learned the truth about socialism...
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