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0 sats \ 4 replies \ @siggy47 22 Mar 2023 \ on: Discussion: Austrian Economics and reflections on South Koreas's development bitcoin
You are drawing sweeping conclusions about the benefits of "soft Socialism" internally without taking into account South Korea's geopolitical value to the west. From 1946 to 1976 the US pumped $12.6 billion into the South Korean economy, which doesn't even take into account military aid and special trade perks. A strong South Korea was a western goal.
I wouldn't credit any form of socialism here.
Good point. That is why I think the difference between the 2 Koreas is interesting. If the U.S. had not needed / wanted a presence in South Korea would it have ended up as a war-lord infested failed state?
How do we understand socialism here though? Was it not simply an extension of U.S. central planning?
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I can't argue with you that US intervention and aid involved US central planning. Unfortunately for all of us Hayek's vision has never been tried on this planet. That's never been more apparent than it is today.
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No worries – I don't know anything and am just a student!
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We all are
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