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And late stage capitalism with boom/bust cycles is good for the community and customers too? At least for the 1% it's doing great.

The point is that a "Local" government deciding on how many of one kind of business shows up in one spot isn't optimizing from the top (you could consider that the state or federal government). Instead you could consider it optimizing it from the middle. The local people are electing officials and having them implement their will. Trying to call that communism would be... odd.



The way most municipal councillors in English-speaking countries optimize everything to retain homeowner's real estate value while keeping property taxes low doesn't exactly imbue confidence.


Having lived in the USSR, I certainly prefer late stage capitalism.


Are boom/bust cycles unique to capitalism? China is going through a pretty big bust and is hardly a capitalist role model.


Is China not a capitalist country? It does not appear to be a heavily planned economy, at least not in the past few decades.


Yes it is ever since it opened up, granting some exceptions to inwardness, recent bits of geopolitics and socialist moves.




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