re: China

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Regarding China and entrepreneurship, I think it’s the best example there is in the world of the destructive effects of socialism and the virtues of capitalism. Everywhere in the world where there is a reasonably high degree of economic freedom, Chinese people excel and prosper because of their work ethic, family values, capitalistic mentality, and religious beliefs. This has been true for many decades. But put them in communist China and they were pitiful paupers. It’s the biggest “controlled experiment” imaginable on the virtues of free markets versus the destructiveness of socialism.

12:38 pm on January 18, 2006