From a civilizational, or national, standpoint, particularly advanced ones, we can, I believe, simplify that still further:
For an advanced civilization, or an advanced nation state, unfettered (more or less) laissez faire capitalism is a process of
Destructive Destruction.
There have been pundits that say such things as 'China is now only returning to its historical weight.' (cyclicality argument brought up to date re creation/destruction thesis, the Chinese the Jews of Asia finally getting back on track, etc., etc.)
One flaw in this argument, among others, is that China had no
' historical weight '.
At perhaps its most powerful, relatively speaking, it had been a vassal state of the Mongols, the Khans, who also conquered Russia around the same time.
One might as well argue that Mongolia is returning to its historical weight.
Similar arguments, no doubt are made re the modern state of Israel. Utter nonsense.
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