Quote:
Originally Posted by jtur88
Why are western capitalists, who got so wealthy by stealing their vast fortunes through manipulative financial dealings, acting so surprised when capitalists in the developing world try to do the same thing?
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Well those "capitalist" in the developing world are hurting the progress of their countries more.
I agree that western capitalist have done dirty things but at the same time many of those western capitalist have put in place economic,legal and political policies that have helped their countries to develop. The capitalist in developing countries like in Africa have made development in their countries more complicated with stagnating economic policies,authoritorian politics and weak laws.
There's several brands of capitalism. The problem with the capitalism you find in too many poor countries is that it falls under the brand of capitalism called "Oligarchic capitalism" which is the worse brand of capitalism.
Robert E. Litan , William J. Baumol and Carl Schramm on Good Capitalism, Bad Capitalism - Project Syndicate
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