Hong Kong and capitalism

myp · Jan 23, 2010

In recent years, Hong Kong has often been ranked the most capitalist city in the world. It has been ranked the freest economy by the Index of Economic Freedom for 15 years running.

As such the city is one of the most prosperous in the world and has a very strong market. My question to the doubters of capitalism, is how can such a magnificent city arise due to a stress on non-intervention if deregulation really is so bad?

deanhills · Jan 23, 2010

myp said:
In recent years, Hong Kong has often been ranked the most capitalist city in the world. It has been ranked the freest economy by the Index of Economic Freedom for 15 years running.

As such the city is one of the most prosperous in the world and has a very strong market. My question to the doubters of capitalism, is how can such a magnificent city arise due to a stress on non-intervention if deregulation really is so bad?

I would hate to live and work in Hong Kong. Have you asked yourself why so many people of Hong Kong have emigrated to North America and other countries? Their capitalism is rooted in cutthroat competition involving people who work 16-hour plus days. They live to work, not work to live. I admire them their success, but I'd rather be with people who are a little more relaxed and regulate things if I need to do that.

myp · Jan 23, 2010

deanhills said:
I would hate to live and work in Hong Kong. Have you asked yourself why so many people of Hong Kong have emigrated to North America and other countries? Their capitalism is rooted in cutthroat competition involving people who work 16-hour plus days. They live to work, not work to live. I admire them their success, but I'd rather be with people who are a little more relaxed and regulate things if I need to do that.

The average work hours is somewhere in the 40s and it has gone down in recent years. But, none of the work is forced and workers could easily live without working so much if they chose to. Not saying I will move there, but there certainly is a connection that can be seen there between prosperity and capitalism. Singapore is another great example.

David · Jan 24, 2010

myp said:
The average work hours is somewhere in the 40s and it has gone down in recent years. But, none of the work is forced and workers could easily live without working so much if they chose to. Not saying I will move there, but there certainly is a connection that can be seen there between prosperity and capitalism. Singapore is another great example.

Singapore> The place that spitting out a piece of gum will get you thrown in jail? Where there is no freedom of speech, assembly or really anything else?

Singapore is a great capitalist power. It's also a brutal police state.

myp · Jan 24, 2010

David said:
Singapore> The place that spitting out a piece of gum will get you thrown in jail? Where there is no freedom of speech, assembly or really anything else?

Singapore is a great capitalist power. It's also a brutal police state.

There is a difference between political and economic structure. Economically, the system is very sound. Politically, it could be conducive to further freedom. But, it is not like that sort of political atmosphere is needed for a capitalist economy. China is another example of this. As they have moved towards capitalism, their growth has been tremendous. Politically they are still holding on to the freedom-limiting structure, but economically, they are sound.

deanhills · Jan 25, 2010

myp said:
The average work hours is somewhere in the 40s and it has gone down in recent years. But, none of the work is forced and workers could easily live without working so much if they chose to. Not saying I will move there, but there certainly is a connection that can be seen there between prosperity and capitalism. Singapore is another great example.

Right, basically they can work as long as they like, but would not be able to fit in then, as possibly people would not like to employ people who are not prepared to work as others. People admire a work ethic of the extreme.

I do agree with you however 100%, there is a connection between prosperity and capitalism, but even more so between prosperity and total dedication of the extreme kind, i.e. putting in all those hours.

Hong Kong and capitalism

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deanhills

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David

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