Hoover InstitutionStanford University
Why Political Freedom and Prosperity Go Hand in Hand

Published April 20, 2021

Socialism’s failure to protect political and economic freedoms has repeatedly led to some of humanity’s worst catastrophes. North Korea’s socialism is an illustrative example of the effects of state control. History shows us that political and economic freedom is the foundation for enduringly successful nations. 

Discussion Questions:

  1. How is a democracy better equipped than a socialist society to handle violations of civil, political, and property rights?
  2. What historical human catastrophes have resulted from decreased political and economic freedom?

Additional Resources:

  • To learn more, read “Political Freedom and Human Prosperity,” by Larry Diamond. Available here.
  • Listen to “Democracy and Authoritarianism,” with Larry Diamond and Elizabeth Economy. Available here.
  • Read “Honor the World’s Hopes,” by Larry Diamond. Available here.

Cast

Larry Diamond

Larry Diamond

Related

Videos

Monetary Policy And The Shadow Open Market Committee Since The 1970s

Mickey Levy on his early career working with Alice Rivlin at the Congressional Budget Office and with Arthur Burns at AEI, as well as being part of the Shadow Open Markets Committee from its early days in the 1970s.

October 16, 2026

Videos

The Enduring Influence Of Thomas Sowell

From politics and economics to journalism and culture, leading voices reflect on how Thomas Sowell’s ideas shaped their thinking and continue to inspire new generations.

October 15, 2026

Articles

Why Europe Is Burning

[Subscription Required] Young Europeans are taking to the streets in Paris, Madrid, and Brussels. They say they want more investment in schools and housing. They should be protesting a system rigged for their grandparents.

October 12, 2026