Economics, Communism and Happiness Clarified

[Abu-Salman]

As a former economics enthusiast and student, I was always puzzled at how little seemed logical or supported by the evidence and how statistics could be very versatile (authors free to interpret data according to their preferences).

Fortunately, I later stumbled on Professor Yanis Varoufakis "Foundations of Economics" that clearly explained the gross assumptions and ideology behind the neo-classical pseudo-truths in textbooks and why economics brainwash more than educate (economics graduates are shown to be more cynical in his book).

A quite essential and captivating book not only for students in social sciences but for everyone interested in knowing more about the flawed assupmtions on which economics rely, the history of key ideas and why they are still promoted as "truths".

 

Also, the now famous Cambridge Professor Ha-Joon Chang remind us that his South Korea ignored every "expert" advise, with the country run by engineers and technicians rather than economists: this made South Korea experiences the fastest economic and technological growth ever instead of the doom predicted by the IMF/World bank.

His book Bad Samaritans: the guilty secrets of rich nations and the threat to global prosperity is another useful eye-opener about pseudo development theories and globalisation or free trade.

Watch him during an LSE conference about another book of his where he dispels widespread prejudices:

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Thus, we are reminded again that people are far more enterprising in poor countries, that immigration control is another sort of tariff that artificially protect the labor market in the West, that communism in Russia led to spectacular progress in investments and industrialisation (rapid gain in heavy industries or armament), that the "socialist" French workers are more productive than say American ones despite more rights, that elites invest badly and no economy is totally unplanned etc (I do not believe in strict communism, though some property rights, trades or farming are respected under those regimes).

 

In fact, even UNDP data clearly show communist or ex communist nations leading in terms of education, health, poverty and inequalities

despite much lower levels of income (Build Your own Index, deselect income and check in Education, Health, Poverty and Inequality).

It is well-known by the WHO and everyone else that Cuba guarantee decent healthcare (constitutional right to Health) or top education and made equality as its national priority; hence the health statistics better than those in the USA and the country sending and training thousands of Doctors accross the world (and other scientific breakthroughs such as affordable drugs and vaccines).

Equal access to those quality public services is possible despite considerable financial strain and restrictions such as trade embargo etc.

 

Here is The Guardian:Along with South Korea, Cuba probably has one of the most impressive and distinctive stories to tell in the annals of modern development. Apart from achieving near 100% literacy many years ago, its health statistics are the envy of many far richer countries.

This happened because health and social spending were not seen as financial costs but the best long-term investments, as equality was decreed a national priority.

The Indian state of Kerala made also great strides in health or equality despite income levels lower than in most African states, under communists or trade-unions leaders from minorities and disadvantaged backgrounds (Jordan is also a muslim country that excel in health and healthcare tourism, which earned much praise and ranks high in terms of equality and human development, higher even than Tunisia).

 

Of course, this is just the tip of the iceberg about how usually misled we tend to be, fed torrents of misinformations and assuming that experts or textbooks are reliable teller of "truths".

Perhaps the most interesting part is that equality and environmental sustainabilty (eg Cuba urban farming) prove to be the real issues that matters in fine, both in terms of social harmony (much less crime) and health, well-being or happiness rather than the controversial sets of data such as GDP, GNI etc.

Indeed, research shows that what matters to individuals is the wealth comparison or consumerist race rather than absolute levels of incomes, hence the health and unhappiness toll or that lasting happiness comes from connection to others and serving them along with clean environment and basic needs met.