The net effects of the regime's economic planning is wealth destruction and perpetuation of chronic, widespread poverty. South Africa’s per capita GDP, at around $6,000 in 2019, has not increased in inflation-adjusted terms in a quarter-century.
Japan's "lost decade" turned into three decades as the scourge of non-stop monetary and fiscal stimulus brought seemingly endless economic stagnantion.
The so-called Founding Fathers used small-scale tax rebellions to justify their counter-revolution against the spirit of 1776, thus launching the big-tax, big-government Constitutional Convention of 1787.
Since real savings enable the production of capital goods, obviously real savings are at the heart of the economic growth that raises people's living standards.
Henry Hazlitt's The Failure of the "New Economics" published in 1959, is still the best refutation of Keynesian economics to be found anywhere — sixty years later.
Anti-capitalists love to claim that consumers don't really have free choice — that advertisers and peers really dictate to others what they should buy. In truth, consumers choose freely, but use others to filter information and simplify the process.
Industrialization and capitalism finally freed us from the starvation and deprivation of endless centuries of subsistence living. Now socialists in Venezuela have managed to reverse centuries of progress.
