Formerly u/CanadaPlus101 on Reddit.

  • 5 Posts
  • 345 Comments
Joined 3 years ago
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Cake day: June 12th, 2023

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  • No problem! Glad to hear someone else appreciates it the same way.

    One explanation would basically be cronyism in a country where there’s endemic corruption and the government intervenes a lot, and however it wants. It’s a pretty classic story from economies all over.

    The funny thing about that is that the CCP actually tends to leave certain sectors alone, more than the West even would. It’s like a hybrid Confucian/Maoist thing where they don’t want to concern themselves with the merchant class. (All I have for evidence on that one is hearsay, sorry)







  • You’re right actually, now that I check it looks like the proportional drop is big but not faster than their historical growth. That big growth means until recently it’s more ramp shaped in absolute terms.

    IIRC the wealth of the bottom half actually went up proportionally during the New Deal/post-WWII, although that’s about the only peacetime period it’s ever happened in. Not sure about income, although I’d guess the same.