The Seventh Boudreaux Prize...
for economistic drivelling goes to Robert Reich, for his commentary 'China: Capitalism Doesn't Require Democracy'. (HT - Arnold Kling)
No, I suppose not, if you define 'capitalism' as being the sons and daughters of Politburo members using their connections to screw the poor into the ground so they can buy their next Mercedes.
I only hope they manage to salt enough away in Geneva before the house comes tumbling down, for I don't suppose they'd ever want to find out how well they'd do well they'd do should Uncle Zhang's phone number ever be...disconnected, so to speak.
Mind you, I don't suppose we can talk.
It's not at all unknown in this country for the children of socialists to enjoy careers in the most decadent and profligate of industries - such as banking.