” During all that time, Americans enjoyed subsidized products, resulting in a higher standard of living.”
other than all of the Americans who lost their manufacturing jobs and have lived much poorer lives.
Exactly. Some say that the Soviet Union was just a monopoly capitalist economy. The free traders love to say there should be no laws against monopolies because the market will destroy them over time.
Of course tens of millions of people were also destroyed between 1917 and 1989, but the market won in the end. Didn't it?
Hurray for farmers the USA needs them! Hurray for the oil drillers they are kicking middle east’s butt! Hurray for the manufacturing workers.... hmmm not so much.