Working Papers
A Network Approach to Geopolitics
Economics Working Paper 26127
October 16, 2026
Published: March 31, 2020
For nearly two centuries, societies have weighed the merits of free-market capitalism and socialism. Debates continue over which system maximizes prosperity and better protects individual liberty. The Human Prosperity Project at the Hoover Institution analyzes free-market capitalism and socialism to assess how each system affects human flourishing.
To read all of the essays in this series, click here.
Discussion Questions
- After the experience of socialism in the twentieth century, why do you think socialism continues to appeal to many people?
- Capitalism is often criticized for creating unequal societies. What kind of inequality exists in socialist economies?
Additional Resources
- Read “Capitalism, Socialism, and Freedom” by Peter Berkowitz, available here.
- Read “Capitalism, Socialism, and Nationalism: Lessons from History” by Niall Ferguson, available here.
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