Democratic Capitalism Exceeds Socialism In Economic Efficiency As Well As In Morality

Wednesday, August 12, 2020
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Abstract

As of 2020, many Americans—particularly but not exclusively the young—remain intrigued by socialism. Indeed, a 2019 survey found that socialism is as popular as capitalism among young American adults. Well-known political figures such as Senator Bernie Sanders (I-VT), Representative Alexandria Ocasio-Cortez (D-NY), and others describe themselves as “democratic socialists” and advocate tens of trillions of dollars in new spending programs along with a massive expansion of state power over citizens’ lives.


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