““When Kenya became independent in the early 1960s, it was at the same economic level as South Korea. But Kenya took the socialist road and South Korea took the capitalist road. Today South Korea is many times richer than Kenya. Sure, there are important cultural differences between the two countries. But we can also verify the superiority of capitalism to socialism by comparing South Korea with North Korea. Same people, same culture. Yet North Korea remains desperately poor while South Korea is a comparatively rich country. India suffered the same fate as other socialist nations—it had a stagnant economy, and indeed for nearly half a century India was symbolized by the “begging bowl.””
