October 21, 2008

Centrally Planned vs. Free Market Economies

Here you can see the difference between North and South Korea at night. According to the CIA Factbook, South Korea's GDP is $25,000, where North Korea's is $1,700. Here, Professor Mark Perry from the University of Michigan writes how Socialism has failed and why capitalism works.


Justin Collum said...

Clearly they have lights out at 6PM. KJI is being a good dad and getting the kids to bed early.

milen said...

I have to say that this photo is a bit off.. There are lights offshore in the sea, and China is also quite dark. Seems to me it's not entirely city lights that are represented here. Therefore, I think this photo is a poor comment on any difference between the countries.
Disregarding that, I do think that North Korea sucks :)