China is a lesson for those in the West that see China’s rising interventionism as a good idea. Political interventionism means bad capital allocation, worse job creation, and the worst type of inequality, the one that is politically driven.
Canada's "private" long-term care homes are anything but private. But the fact a small sliver of the marketplace is allowed to charge fees for services means activists want even more socialized medicine.
In a free, unhampered market economy, individuals’ expectations are likely to correspond to the facts of reality. But we live in an economy where central banks routinely distort market signals and deceive the public.