Maybe, but I hope there are better arguments for the current system than "it works better than the Soviet Union". All you have done here is establish that an extremely dysfunctional economy can either waste or fail to use its resources, which would mean that America and Western Europe are not completely dysfunctional. This is a pretty low bar.
And as you said, we're talking short term here. Very short term. On slightly longer terms, it really doesn't look so good. Indeed, it takes an absurd level of denial / techno-optimism / magical thinking (whichever you prefer) to look at paleoclimatology and current climate indicators and think it can go on for much longer without global catastrophy.
At the end, if the best we can say of globalization is "For around 40+ years it was great fun for a lot of people. Well, for the most privileged countries anyway. And then it collapsed, and took a great chunk of the biosphere and the human population with it"... I don't see much to celebrate.
And as you said, we're talking short term here. Very short term. On slightly longer terms, it really doesn't look so good. Indeed, it takes an absurd level of denial / techno-optimism / magical thinking (whichever you prefer) to look at paleoclimatology and current climate indicators and think it can go on for much longer without global catastrophy.
At the end, if the best we can say of globalization is "For around 40+ years it was great fun for a lot of people. Well, for the most privileged countries anyway. And then it collapsed, and took a great chunk of the biosphere and the human population with it"... I don't see much to celebrate.