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Zimbabwe's experience with kicking out the white farmers and seizing their land for redistribution. by Chipit in WorldPolitics

[–]h5e4ah45erth 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

Local economies prosper

Depends what you mean "prosper". In terms of labor to production, it's just not true, societies with higher ratios of debt (or another way to put it, more capital per risk) generally grow faster, and the result of that growth is more production per unit of labor. Because what debt represents it the willingness for those with wealth to lend it to risky projects. If you have no debt, what you really have is a wealth-hoarded society. Maybe it can exist at small scales, when wealth is scarce in the first place, but in the long term, hoarded wealth is wealth not invested.

Hence the inevitable transition of anarchist to "tankie": if we can't trust the rich with wealth, we need a council of councils to Democratize it. And the opposition will be executed.