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Originally Posted by X5rolls
Not sure if I understood your answer to my question about which country represents the best of socialism. Which one can you suggest has the successes based on socialism as you are describing?
I'm tyring to get a better context to the position you are advocating, it's still a bit abstract and theoretical for me without an example to illustrate the point.
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It is indeed very theoretical at this point. Up until now, most socialist countries have isolated themselves from the rest of the world (or were isolated by the rest of the world) which of course is not good for economic growth no matter what kind of economic system you have.
I suppose the system that most closely resembles what I like is that in Vietnam. It's not a great example though because they have only been around for a short time. It would be like judging the progress of the United States in 1825. But Vietnam has been experiencing 8-10% growth per year over the past 10 years. So they are doing quite well.
They are officially a socialist country, but they allow small business and private investment, but only to a certain level. All major industry is state run. Any foreign corporations that want to invest there must do so under a government umbrella corp, meaning that McDonalds can open up restaurants there, but officially those restaurants are state owned and McDonalds is only allowed to operate them under state guidlines.
The advantage of such a system for the average person is that because the government is able to collect large amounts of revenue from corporate profits and government run industry, the average person pays barely any taxes at all. And of course this is the exact same way that Venezuela operates its oil industry. Foreign companies can drill for oil there, but the oil wells are state owned.