> Are we living in the same world?

I live in the western world. In a continent that gave ordoliberal (the German branch of the Mont Pellerin society) principles a quasi-constitutional values. And that continent has fallen behind both the government-debt pumped US and the state-driven China, down from a dominant position when the said principles were raised as supreme laws.

In fact, the very country that invented railways has now been unable to operate first-world level of rail service for three decades, with the collapse happening because of Thatcher's policies.

> All over the place, we see that more neoliberal places are richer than less neoliberal places. For example, Ireland is richer than Germany which is richer than Greece.

Ireland is a tax haven. And half of its GDP is entirely virtual. And again China and the US (which has roughly three time as much public debts as the EU and has had much more relax monetary policies than what the EU can legally due to the Treaty of Rome and its updates) fare better than the EU. But then again I'm sure you'll say that “it's not actual liberalism”…

> The US had and has really asinine and heavy-handed financial regulation.

The regulations put in place in the 30s after the great depression were relaxed by Reagan, and unsurprisingly it lead to the reemergence if financial crisis after half a century of financial stability.

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eru a day ago | parent [-]

Ireland is richer if you look at labour income, too. I agree that its GDP numbers are a bit weird.

China is poorer than the EU.

> The regulations put in place in the 30s after the great depression were relaxed by Reagan, and unsurprisingly it lead to the reemergence if financial crisis after half a century of financial stability.

The US had inane financial regulations right from the start. And I'm not sure what you are smoking: have you heard of the Great Moderation? See https://en.wikipedia.org/wiki/Great_Moderation

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littlestymaar a day ago | parent [-]

> China is poorer than the EU.

Per capita, so far. But it used to be a third-world country and it's now the industrial superpower.

> The US had inane financial regulations right from the start.

“FDR didn't exist”.

> And I'm not sure what you are smoking: have you heard of the Great Moderation? See https://en.wikipedia.org/wiki/Great_Moderation

Dude, the “great moderation” is about inflation, business cycles and macro trends more generally, not about financial markets stability.

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eru 20 hours ago | parent [-]

> Per capita, so far. But it used to be a third-world country and it's now the industrial superpower.

They moved from dirt poor to middle income largely by strangling their economy quite as hard as the did under Mao. If they liberalised further, they could become richer.

> “FDR didn't exist”.

Huh?

	▲	littlestymaar 20 hours ago \| parent [-]
		> They moved from dirt poor to middle income largely by strangling their economy quite as hard as the did under Mao. They did move from durt poor to “higher life expectancies than the US” because the state made it an actual goal, with policies designed for that. > If they liberalised further, they could become richer. That's just your religious belief. But it has strictly the same factuality as “if you went to church, God would help you be happier”. > > “FDR didn't exist”. > Huh? Maybe document yourself on the massive financial regulations tightening that happened under FDR before saying it has always been the same.