capitalism vs. socialism

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American History


Written by:

Victor C


Date added:

August 30, 2015








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7 / 1747


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This has led to massive unemployment and temporary employment, relative stagnation, vast out-migration and the de-capitalization of the economy via illegal transfers, money laundering and pillage of resources. In Poland, the former Gdansk Shipyard, point of origin of the Solidarity Trade Union, is closed and now a museum piece...
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Over 20% of the labor force is officially unemployed (Financial Times, Feb. 21/22, 2004) and has been for the better part of the decade. Another 30% is "employed" in marginal, low paid jobs (prostitution, contraband, drugs, flea markets, street venders and the underground economy). In Bulgaria, Rumania, Latvia, and East Germany similar or worse conditions prevail: The average real per capita growth over the past 15 years is far below the preceding 15 years under communism (especially if we include the benefits of health care, education, subsidized housing and pensions)...
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