by "Capitalism" in the title of the post should be in quotes. Actual capitalism is highly efficient. The problem with it is that it favors capital and leads to social and political disruption. True capitalism is not practiced in the so-called capitalist world. Rather, the monopoly capitalism and financial capitalism that are dominant are centered on rent-seeking and rent extraction rather than on profitmaking from economic contribution based on the cycle of production, distribution, and consumption in a market-based economy. While true capitalism is based theoretically at least on free markets, where "free" signifies a symmetrical market, contemporary capitalism prefers asymmetrical markets that are favorable to economic rent.But just how is socialism more efficient. John Ross explains.
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Socialist China’s investment is much more efficient in creating growth than in capitalist countries such as the U.S.. As will be shown, this efficiency of China is integrally linked to the socialist character of its economy.As usual the method will be used to use the wise Chinese dictum to “seek truth from facts”. The first section of the article will establish the facts showing the greater efficiency of China’s investment. The second section will demonstrate that the reasons for this lie in the socialist character of China’s economy....