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The Human Prosperity Project

Over the last century, free-market capitalism and socialism have been the two dominant and conflicting political and economic models. The Human Prosperity Project investigates the historical record to assess the consequences for human welfare, individual liberty, and interactions between nations of various economic systems ranging from pure socialism to free-market capitalism.
 

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Though the Chinese model of governance is appealing to many authoritarian leaders, its absence of democratic norms and institutions encourages corruption and constrains healthy economic growth. 

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Socialism’s disastrous history shows us that political and economic freedom is the foundation for enduringly successful nations. 

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China’s economic gains have come at a substantial cost to its people and to its neighbors, leading other nations to look to democracy and markets to deliver prosperity.

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Environmental progress is more likely to occur in free-market systems due to their robust, tradeable, and enforceable property rights.

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The US Constitution creates a balanced system of government that is uniquely equipped to resist socialism.

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The Constitution was designed to protect individual liberties and prevent the centralization of power, making it uniquely suited to resist socialism.

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The experiences of East and West Germany after World War II offer an insightful comparison that highlights socialism’s empty promise of prosperity.

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Though many believe socialized medicine will keep health care costs low, the costs of single-payer systems extend far beyond the taxes required to support it.

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Government regulations that increase the cost of working lead to higher unemployment and decreased prosperity.

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Focusing exclusively on income inequality obscures the benefits of market reforms that have lifted billions of people out of poverty.

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Liberal democracy triumphs where communism fails because it limits the government’s ability to make important decisions on behalf of its citizens.

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The Human Prosperity Project at the Hoover Institution analyzes free-market capitalism and socialism to assess how each system affects human flourishing.

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A review of the most commonly referenced people, places and concepts in the discussion of socialism and free-market capitalism.