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The Second Law of Value
This is an economic system ruled by the armed forces (or military-backed leaders).
It typically suffers from:
- overregulation which violates Law 3
- overcapitalization of the military which violates Law 2
- undercirculation which violates Law 1
It often persists because it focuses on Law 1, except in North Korea where the people have starved.
Examples are:
- Nazi Germany
- Imperial Japan during WWII
- Fascist Italy
- African dictatorships
- North Korea
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