Over the years, I’ve repeatedly tied to explain why socialism is a terrible system while also explaining that we should be careful not to label people as socialists if it’s more accurate to refer to them as statists, redistributionists, cronyists, or fascists.
To help illuminate this issue, here’s a four-quadrant matrix. Free markets are on the left and state planning is on the right. And small government is on the top with redistribution is on the bottom.
So it’s a very good idea to be in the top-left quadrant, hopefully close to the corner, sort of like Hong Kong and Singapore. And it’s a big mistake to be in the bottom-right quadrant, sort of like Cuba, North Korea, and Venezuela.
Notice, by the way, that Denmark and Sweden are more free market than the United States (i.e., further to the left), but…
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