ABSTRACT
The “Great Debate” over communism's comparative merit started shortly after the French Revolution. It gathered momentum after Karl Marx's publication of the Communist Manifesto in 1847, and dominated global politics after the Bolshevik Revolution in 1917 until the Soviet Union's demise in 1991. Russia's Communist Party lingers on, but from the early 1990s to the present, history's verdict from the West's perspective has been that communism failed the competitive test. 143 This judgment however is only valid for Soviet and North Korean command communism. 144 Chinese White Communism has more than held its own against the imperfectly competitive Liberal Democratic orders of the West since emerging full-fledged in the new millennium, and Pink Communist markets could do better.
