Wednesday, September 05, 2007

Central Control vs Free Market (N. Korea vs S. Korea) 

This chart, more than anything I've seen recently, demonstrates the difference between a centrally controlled economy (North Korea) and a free market economy (South Korea). In 1948 both were on an equal footing except that the North had the economic advantage of being industrial heartland. The results graphed below show without a doubt, the difference competition, attitude, opportunity, and omission of central control make:

Here's the link - the graph is a bit difficult to read but hands down, central control of economies does not work.