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Cake day: July 1st, 2023

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  • Even a socialist command economy has to reason in terms of inputs and outputs. The difference in value between the two is a pretty good indicator of whether the given economic activity is successful or not. In a capitalist system the positive difference is called profits and the capitalists get to keep it. That fact doesn’t discredit the entire concept of “profits” as a net gain in value.

    Anyway, just because the capitalists may win most (the whole system is called capitalism after all), doesn’t mean that ramping up European arms production isn’t a huge benefit for Ukraine.