Socialist economics subsidizes failure in China

NY Times:

Zombie Factories Stalk the Sputtering Chinese Economy

The government is keeping failing factories on life support in an effort to maintain social stability, but the policy may hinder a return to healthy growth.
It si the same reason socialist countries like Venezuela, Ecuador and Mexico are reeling from the down turn in the oil markets.  In the US businesses are being forced to cut staff and become more efficient to remain competitive, but in the socialist countries they can't seem to even imagine such a  response.   When governments do intervene it is usually to subsidize failure.

But socialist are incorrigibly wrong headed on basic economics.  It is why people like Bernie Sanders will still push socialism despite its obvious failures.  In France and Britain it is even worse.  It is a disease to make people equally poor.


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