We’re All Soviets Now

Eye-opening insight by my favorite historian, Niall Ferguson. The US is the Soviets of the Cold War II.

A few comparisons

Economic Systems:

- Soviet Union: Dysfunctional planned economy, resource squandering, shortages

- Soviet America: Despite being a dynamic market economy, suffers from rising deficits, low productivity growth, and exaggerated past assessments of economic strength

Public Sector and Budget:

- Soviet Union: Chronic "soft budget constraint"

- Soviet America: Chronic deficits and significant national debt, similar financial irresponsibility

Ideology and Governance:

- Soviet Union: Ideological control, false narrative of serving workers

- Soviet America: Controversial DEI policies, ideological rigidity in educational and social policies

Elite vs. Population:

- Soviet Union: Nomenklatura with privileges, poor masses

- Soviet America: Ivy League elite with differing values from general population, economic disparity

We’re All Soviets Now

Eye-opening insight by my favorite historian, Niall Ferguson. The US is the Soviets of the Cold War II.

A few comparisons

Economic Systems:

- Soviet Union: Dysfunctional planned economy, resource squandering, shortages

- Soviet America: Despite being a dynamic market economy, suffers from rising deficits, low productivity growth, and exaggerated past assessments of economic strength

Public Sector and Budget:

- Soviet Union: Chronic "soft budget constraint"

- Soviet America: Chronic deficits and significant national debt, similar financial irresponsibility

Ideology and Governance:

- Soviet Union: Ideological control, false narrative of serving workers

- Soviet America: Controversial DEI policies, ideological rigidity in educational and social policies

Elite vs. Population:

- Soviet Union: Nomenklatura with privileges, poor masses

- Soviet America: Ivy League elite with differing values from general population, economic disparity
https://www.thefp.com/p/were-all-soviets-now