Economic Theory

The economic failures of socialism never had anything to do with a lack of democracy


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Modern socialists get away with claiming its failures are due to a lack of democracy, not the failure of socialism itself, says Dr Kristian Niemietz, Head of Political Economy at the Institute of Economic Affairs.

Writing for CapX, Kristian argues that the economic failures of socialism never had anything to do with a lack of democracy and that the empirical literature finds no relationship either way between economic development, and the system of government.

Read the full piece here.



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