Recovering from WW2 losses was indeed a challenge for many soviet bloc countries. My suspicion is that without the cold war, W.Europe would also have recovered much slower as US investment and interest could have taken quite a different form.
Latin America is a different beast, worthy of its own discussion separate to this one.



Sure. If the right policies are prioritized and investments made, it should be much more efficient. Investments in primary healthcare and education in particular tend to be clear winners.
Russia’s sudden shift to oligargchic capitalism was deeply corrupt and destabilising, harming russia itself and much of the neighbourhood.
It’s not capitalism that improves living standards. It’s sustained (and sustainable) growth, stable institutions and investment over time. Both capitalism and socialism can (and have) supported that, each with risks and caveats.
Thanks