Oops! I must have got socialism vs. capitalism all wrong

I’ve been saying and I’ve always believed that socialism vs. capitalism is a no-brainer. I said and earnestly believed that capitalism is the best economic system for the highest prosperity and greatest happiness for all, from the very poor to the mega rich.

Alas, I just found some stunning statistics that make every thing I’ve always believed completely wrong, wrong, wrong.

I feel so stupid that I ever believed the charade of economic growth under capitalism. Cleary, socialism is what enables human flourishing by providing the most of everything, from riches to happiness to human well-being. Unlike capitalism, which creates untold wealth for the few and poverty and suffering for the many, socialism creates not just plenty for all to enjoy, but cooperation and friendship among all the people in every country with the wisdom to adopt central planning.

Here are the stats that have shamed me out of my former misguided beliefs:

This is nothing short of a Great Awakening. How could I have missed this! Clearly, the United States and Western Europe have under performed East Germany and the former Soviet Union over the period 1950-1989.

I thought about looking for stats from 1990 to the present, but then I stopped myself. I’d likely find more proof that East Germany and the New Russia (after the terrible collapse of the former Soviet Union due to the nasty shenanigans of the Reagan Administration) skunked the West on every measure of human happiness and prosperity. I decided not to look. No need to deepen my regret for having supported the wrong side of economic theory all these years.

How could this have happened? How could our leaders and politicians have hidden the truth from us for so long? Oh well, at long last, the truth has shown itself. The truth will out!

I hereby take back all the slanderous slurs I have made against that paragon of sagacity know as Alexandria Ocasio-Cortez, AOC for short, as JFK is for John Kennedy, and FDR for Franklin Roosevelt.

Because, like them, AOC is destined to become a great stateswoman and leader of her people into the promised land. Mean while, I’ll be having roasted crow for many meals ahead. Is there is a cook book for making the best crow casseroles?

UPDATE: Egads, my head is spinning now. I just found out the chart above, while it really is the official announcement and press release by the former East German government and the former Soviet Union politburo, the whole thing is hogwash. The stats shown are not real. They’re junk. They never happened. The Soviet and East German dictators made it all up. How could they have fooled their people so spectacularly? Why would they do that?

Gosh, do you think maybe the Soviet and East German plebeian proletariates didn’t really believe any of it but were afraid to say so? Why would that be?

Oh, woe is me.


There were more than a few gullible Americans—including some economists—who blindly believed this nonsensical data. See this excellent analysis by Dan Mitchell: Comparing the Economic Growth of East Germany to West Germany: A History Lesson

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