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by ipaddr 212 days ago
The average citizen in those places do not reap the rewards. Those places are countries where laws are built for the rich and to shield money. GDP is not a great measure for the average person unless communism is fully realized.
1 comments

The average citizen is much better off than in low-GDP places. The issue is how much prosperity they miss out on because it's captured by a few.

The world has never seen an explosion in prosperity, and reduction in poverty, like the post-WWII and post-Cold War years, and it was accomplished via free markets, trade, etc. (not perfectly or exclusively, of course). Look at S Korea, Taiwan, Japan, Brazil, China, India - like nothing the world has ever seen. Billions lifted from poverty.

Look at Western Europe after the absolute destruction of two world wars, and compare their recovery with places that did not follow the path of free markets and trade.