Socialism and Free Market Capitalism: The Prosperity Project Initiative

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The Human Prosperity ProjectVideosFeatured

The China Model: Not One To Emulate

by Elizabeth Economyvia PolicyEd
Thursday, May 13, 2021

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.

The Human Prosperity ProjectVideosFeatured

Why Political Freedom And Prosperity Go Hand In Hand

by Larry Diamondvia PolicyEd
Tuesday, April 20, 2021

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

The Human Prosperity ProjectVideosFeatured

The Modern-Day Choice Between Free Markets And Socialism

by Michael R. Auslinvia PolicyEd
Tuesday, March 30, 2021

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.

EssaysFeatured

The Economic Impact Of A Universal Basic Income

by John F. Cogan, Daniel Heilvia Socialism and Free Market Capitalism: The Human Prosperity Project
Thursday, January 14, 2021

At various times throughout our nation’s history, a wave of collectivist sentiment has swept the country. These waves, born out of a deep disenchantment with current circumstances, are often characterized by a fervent, but mistaken, belief that society can be improved by subordinating the interest of the individual to centralized government control. We are experiencing such a collectivist wave today. Riding atop this populist wave is a strong sentiment that government should use its power to tax to redistribute income from rich to poor. A popular policy instrument for this redistribution is the universal basic income (UBI).

The Human Prosperity ProjectFeaturedVideos

Economic Growth: The Path To A Cleaner Environment

by Terry Andersonvia PolicyEd
Thursday, January 7, 2021

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

EssaysFeatured

Taxation, Individual Actions, And Economic Prosperity: A Review

by Joshua D. Rauh, Greg Kearneyvia Socialism and Free Market Capitalism: The Human Prosperity Project
Wednesday, January 6, 2021

A move toward socialist, government-centered economic systems in the United States, as proposed by the political left, would require a substantial increase in government resources, which could only be brought about through significant increases in tax revenue. According to data from Organisation for Economic Co-operation and Development (OECD) (figure 1), the US government spent 38 percent of GDP in 2019, placing it above countries such as Ireland (25 percent), Chile (26 percent), Korea (30 percent), and Switzerland (34 percent), but significantly below most OECD nations. The countries that top the list are France (56 percent), Finland (53 percent), and Belgium (52 percent).

EssaysFeatured

The China Model: Unexceptional Exceptionalism

by Elizabeth Economyvia Socialism and Free Market Capitalism: The Human Prosperity Project
Friday, December 4, 2020

At the 19th National Congress of the Chinese Communist Party (CCP) in October 2017, CCP General Secretary Xi Jinping startled international observers by claiming that “the banner of socialism with Chinese characteristics is now flying high and proud for all to see . . . blazing a new trail for other developing countries to achieve modernization. It offers a new option for other countries and nations who want to speed up their development while preserving their independence, and it offers Chinese wisdom and a Chinese approach to solving the problems facing humanity.

The Human Prosperity ProjectFeaturedVideos

Constitutional Safeguards Against Socialism

by Michael McConnellvia PolicyEd
Thursday, December 3, 2020

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

EssaysFeatured

Political Freedom And Human Prosperity

by Larry Diamondvia Socialism and Free Market Capitalism: The Human Prosperity Project
Wednesday, November 18, 2020

One of the oldest and most important questions in the comparative study of nations is the impact of different economic and political systems on human prosperity. What is the secret to developmental success? Is it capitalism or socialism? Or what degree of market orientation? Democracy or dictatorship? What kind of democracy? And to complete the triangular relationship, what is the relationship between economic system and political system? Does democracy require capitalism?

The Human Prosperity ProjectFeaturedVideos

How The Constitution Prevents Socialism

by John Yoovia PolicyEd
Wednesday, October 14, 2020

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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Chair
Robert Wesson Senior Fellow
Participant
Research Fellow
John and Jean De Nault Senior Fellow
Payson J. Treat Distinguished Research Fellow in Contemporary Asia
Tad and Dianne Taube Senior Fellow
Senior Fellow
Rose-Marie and Jack Anderson Senior Fellow
Leonard and Shirley Ely Senior Fellow
Senior Fellow
Milbank Family Senior Fellow
Peter and Helen Bing Senior Fellow
Robert and Carole McNeil Senior Fellow
Martin and Illie Anderson Senior Fellow
Senior Fellow
Senior Fellow
Distinguished Visiting Fellow
Senior Fellow
Senior Fellow
Tad and Dianne Taube Director | Thomas and Barbara Stephenson Senior Fellow on Public Policy
John and Jean De Nault Research Fellow
Senior Fellow
George P. Shultz Senior Fellow in Economics
Visiting Fellow
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Impacts Of Government-Sponsored Programs

Thursday, December 3, 2020
Hoover Institution

The Hoover Institution presents an online virtual speaker series based on the scholarly research and commentary written by Hoover fellows participating in the Human Prosperity Project on Socialism and Free-Market Capitalism. Tune in on Thursday, December 3, 2020 a11:00 am PT.

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Democracy And Authoritarianism

Thursday, November 12, 2020
Hoover Institution

The Hoover Institution presents an online virtual speaker series based on the scholarly research and commentary written by Hoover fellows participating in the Human Prosperity Project on Socialism and Free-Market Capitalism. Watch the discussion with Hoover Institution fellows Larry Diamond and Elizabeth Economy.

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Perspectives From Germany, China, And Hong Kong

Thursday, October 15, 2020
Hoover Institution

The Hoover Institution presents an online virtual speaker series based on the scholarly research and commentary written by Hoover fellows participating in the Human Prosperity Project on Socialism and Free-Market Capitalism. Tune in on Thursday, October 15, 2020 a11:00 am PT.

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The History Of Socialism And Capitalism

Thursday, October 1, 2020
Hoover Institution

The Hoover Institution presents an online virtual speaker series based on the scholarly research and commentary written by Hoover fellows participating in the Human Prosperity Project on Socialism and Free-Market Capitalism. Tune in on Thursday, October 1, 2020 at 11:00 am PT.

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Property Rights, Innovation, And Prosperity

Thursday, September 17, 2020
Hoover Institution

The Hoover Institution presents an online virtual speaker series based on the scholarly research and commentary written by Hoover fellows participating in the Human Prosperity Project on Socialism and Free-Market Capitalism. Tune in on Thursday, September 17, 2020 a11:00 am PT.

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The Case For Economic Freedom

Thursday, September 3, 2020
Hoover Institution

The Hoover Institution presents an online virtual speaker series based on the scholarly research and commentary written by Hoover fellows participating in the Human Prosperity Project on Socialism and Free-Market Capitalism. Recorded on Thursday, September 3, 2020.

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Opportunity And Income Inequality

Thursday, August 20, 2020
Hoover Institution

The Hoover Institution presents an online virtual speaker series based on the scholarly research and commentary written by Hoover fellows participating in the Human Prosperity Project on Socialism and Free-Market Capitalism. Tune in on Thursday, August 20, 2020 at 11:00 am PT.

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Liberty And Federalism

Thursday, August 6, 2020
Hoover Institution

The Hoover Institution presents an online virtual speaker series based on the scholarly research and commentary written by Hoover fellows participating in the Human Prosperity Project on Socialism and Free-Market Capitalism. Watch a video of the discussion below.

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Personal Freedom And The Moral Case For Capitalism

Thursday, July 23, 2020
Hoover Institution

The Hoover Institution fellows Ayaan Hirsi Ali and Russ Roberts discuss why freedom, education, our Bill of Rights, and capitalism are important to the success and growth of individuals, communities, and countries.

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The Human Prosperity Project On Socialism And Free-Market Capitalism Kicks Off Speaker Series With A Conversation Featuring Condoleezza Rice

Monday, July 20, 2020
Hoover Institution, Stanford University

The Human Prosperity Project, a Hoover research initiative in which scholars survey empirical data regarding the historical record of socialism and free-market capitalism, has launched a new online speaker series featuring Hoover fellows’ commentary on the world’s most prominent and conflicting economic systems.

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Free-market capitalism and socialism are polar cases of government and economic form that have dominated the past century.

Free-market capitalism is characterized by private ownership of the means of production, where investment is governed by private decisions and where prices, production, and the distribution of goods and services are determined mainly by competition in a free market. Socialism is an economic and political system in which collective or governmental ownership and control plays a major role in the production and distribution of goods and services, and in which governments frequently intervene in or substitute for markets. Proponents of capitalism generally extoll the economic growth that is created by private enterprise and the individual freedom that the system allows. Advocates of socialism emphasize the egalitarian nature of the system and argue that socialism is more compassionate in outcomes than is the free market. The Hoover Institution’s Prosperity Project on Socialism and Free-Market Capitalism investigates in an objective and scholarly manner 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.