With so many young (and clueless) Americans clamoring for socialism, it’s worth asking about the likely consequences of such a move. What happens to liberty and prosperity? Will people be better off than in an unplanned, uncontrolled, market-based economy, even one that the government interferes with?

In this AIER article, Alex Tokarev, Gabriel Benzecry, and Kristin Tokarev ask, “What’s Worse — Authoritarian Capitalism or Democratic Socialism?”

After clarifying that they oppose all sorts of authoritarianism, the authors write, “Under a regime where the rule of law is replaced by the arbitrary rule of men, the economic system imposed still makes a world of........

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