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In just thirty-five years (1960 to 1995), the countries with the freest economies in the world—Hong Kong and Singapore—multiplied their per capita GDP by an incredible factor of FIFTY (an increase of roughly $23,000), despite their high population densities and lack of natural resources. By contrast, India and Myanmar, two countries with government-dominated economies, increased their per capita GDP by a paltry $500. (THAT'S OVER 35 YEARS!!) At the end of World War II, all four countries had almost exactly the same income. Now, Hong Kong and Singapore are among the wealthiest countries in the world, while India and Myanmar are still wretchedly poor.

You claim: "The absolute disaster visited upon the American economy is the result of the Reaganomics of the last forty years." Here's the actual per capita income data:

United States:

1980: $12,574

2023: $81,695

France:

1980: $12,713

2023: $44,461

The disaster you speak of is that of the statist European countries that have denied their people all that income.

Here's more. Let's take a look at Africa:

After independence, a dozen African countries (Ghani, Mali, Ethiopia, et al) took the socialist route. Between1966 and 1980, not a single one of them had significant economic growth. Many actually had negative growth. By contrast, the countries with the freest economies -- Cote d’Ivoire and Botswana-- skyrocketed: Cote d’Ivoire's per capita GDP grew by 443 percent and Botswana enjoyed a staggering 1,212 percent growth rate during that period.

Dec 17
at
11:45 PM