Quote:
Originally Posted by Undertoad
Albania
Albania
You border on the Adriatic
Your land is mostly mountainous
And your chief export is chrome.
Albania: the place that sucks so hard even Capitalism didn't work. What you say, I thought Capitalism was perfect. We have to revise that: *nearly* perfect.
50% inflation. Pyramid schemes. 1500 deaths. Bouncing currency values. Widespread destruction of property. These are not the signals of success you were expecting. These are extreme market failures. Capitalism almost always works... although sometimes it doesn't. But that's the human condition in a nutshell.
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Correct me if I'm wrong, but wasn't Albania a former Eastern block nation? My guess is any kind of attempt they made at capitalism, wasn't really capitalism. They probably didn't even understand what capitalism really means. Pyramid schemes aren't capitalism and nor is any system that requires government force to exist. My guess is they had some form of highly regulated system with capitalist leanings that didn't work because it was stifled.
Capitalism is the free and voluntary exchange of goods or services on a value for value basis. Any third party involvement on the part of the government in these exchanges disqualifies this from being capitalism.