European Union Economy Gdp
Posted in EU Info on 10/06/2010 11:23 pm by admin
How would us American citizens be effected economically if the USA were to become communist?
From what I know, the USA has the biggest economy in the world with a Gross Domestic Product of about 13 trillion dollars (the whole European Union can barely match that!). That is that all 300 million Americans together make that much a year.
The GDP per capita (or the USA average income) is about 44,000 dollars. It’s pretty high since we have so many billionaires.
Now, if we were to become communist, does that mean that everyone would have to make the same amount of money (44,000 a year)? Does that mean that normal workers and doctors would be paid the same? From what I heard, Cubans all make about the same. Is that exactly how it would be here?
If not, how exactly would we be effected.
By the way, I’m not communist, just a question that popped up.
Well, but out the revolution part. Assume everyone was OK with it (even though I honestly wouldn’t be). How would it effect us just economically?
Communism in fact means that all assets are owned by the community or commune. The gap between the highest and lowest income group is supposed to be narrowed down to the lowest possible. However, please, remember this is theory.
In practice, the party bosses are way above the ‘common man’ in terms of wealth and resources.
Communism calls for reduced number of choices. You have to eat the bread and cheese doled out to you by the Government. All property is owned by the Government.
Communism reduces or eliminates private initiatives. It kills individual creativity. Since one does not own anything (in theory at least), there is no incentive to excel in anything. the result is mediocre Government, mediocre services and ‘no one cares’ attitudes all around.
Cuba is a small country. Comparison with the U S will not be in order.
The Vatican of communism, USSR and China, have come out of communism long back. Now, more lip service is paid by pundits of communism. If you want to know what communism has done for Russia, just look at the crime scene there.
East european economies have progressed much better under the free market economy. Even China is leaning towards restricted capitalism.
Shanghai share market is an example.
There is no danger of US ever embracing communism. At least not in the near future (say next 100 years.)
Now, sleep peacefully.
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