The Economic Performance of Socialism

Applied Economics Letters

6 Pages Posted: 19 Feb 2020 Last revised: 13 Dec 2020

Date Written: December 7, 2020

Abstract

Socialism is attracting renewed interest. But forced economic equality comes with significant economic costs. I conduct an empirical evaluation on the performance of major socialist economies in meeting living standards and show that socialism results in poverty.

Keywords: economic development, socialism, capitalism, economic freedom

JEL Classification: 01, P1, P2

Suggested Citation

Mladina, Peter, The Economic Performance of Socialism (December 7, 2020). Applied Economics Letters, Available at SSRN: https://ssrn.com/abstract=3522297 or http://dx.doi.org/10.2139/ssrn.3522297

Peter Mladina (Contact Author)

Northern Trust ( email )

2049 Century Park East
Suite 3600
Los Angeles, CA 90067
United States

UCLA ( email )

405 Hilgard Avenue
Box 951361
Los Angeles, CA 90095
United States

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