Excerpted from Smith's new book:
But in China, none of this applies. China's rulers are not private
capitalists -- at least not with respect to their state economy. China's
rulers are bureaucratic collectivists who run a hybrid bureaucratic
collectivist-capitalist economy, a system largely exempted from the laws
of capitalism.
---
Somehow, perhaps irrationally, I just can't believe that after more than
a million years of evolution, and after all the astonishing achievements
of thousands of years of human civilization and culture, we're going to
throw it all away and drive ourselves and many other species off the
cliff to extinction to save our 300-year-old system of capitalism, let
alone to save China's ghastly 40-year-old system of police-state
capitalism. That would be an appallingly sad coda to life on Earth.
https://systemchangenotclimatechange.org/article/wake-us-climate-failures-dont-look-china-panacea
I love Richard's work but this strikes me as being on shaky ground
theoretically.
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