There is validity to this data. At the same time, we are in a totally different interconnected world unlike those times. Moreover, population distribution along with colonial history complicates and exaggerates the situation in some of those countries. There are also countries losing large number of children under the age of 5 to poverty even in a capitalistic environment. For example, India accounts for 1.25 million deaths a year for children under 5 due to poverty while the stock market, and economy are supposedly booming.
Before expanding my perspective here, it is important for commoners to understand what these terms really mean. Here is one interesting article, (More detailed reports will be available soon)
Personally, as stated earlier (again in 2014), all economic systems have intermingled in the 21st century, and what we need is pragmatism. It is about understanding demographic distributions, resource availabilities along with an economic philosophy balancing self-reliance with interdependence in this machine world.
More detailed reports on economic/political theories, and parameters defining them will be made available soon.
Originally shared by Pradheep Shanker
On this #MayDay ...#NeverForget