A Planned, Socialist Economy Works: The Economic Success of China

Photo by Christian Lue

Overnight American conservatives have gone from “socialism can’t work, communism can’t work” to “watch out–the Chinese Communist Party is taking over the world!” Yet few seem to see the unresolvable contradiction between these two views.  Over the past four decades China has risen from the third world to possessing the world’s second-largest Gross Domestic Product. How? What the American political establishment can’t bring itself to acknowledge–a planned, socialist economy works.