Places that moved toward socialism — Britain in the 1970s, Venezuela more recently — tended to get poorer and more miserable. You’ve noticed that the environment is much better in capitalist nations than in planned economies. Those in the planned economies have a life expectancy of 65.2 years. Over the past century, planned economies have produced an enormous amount of poverty and scarcity. They turn scarcity into corruption.

Source: New York Times December 06, 2019 01:41 UTC