Free Market vs Democratic Socialism (in graphs)

Socialism and a belief in the state will ensure your society remains in the dark ages (literally).  A clear contrast between North and South Korea – –

 

http://www.cato-at-liberty.org/the-brutal-impact-of-north-korean-statism/

Argentina is another example.  As noted by Dan Mitchell

What makes this so tragic is that Argentina used to be one of the world’s wealthiest countries. Last night, I had the privilege of listening to one of the nation’s leading free market advocates, Dr. Ricardo H. López Murphy, talk about Argentina’s history.  In the 1800s and early 1900s, Argentina looked to the United States for inspiration (back in the days when government was a far smaller burden) and he noted that his country was remarkably successful.

Then, beginning around the 1940s, Argentina began to march in the wrong direction. As you can see from this chart, the consequences have been tragic. The nation’s relative ranking has declined precipitously. A country that used to be one of the world’s richest has now fallen way behind.

http://danieljmitchell.wordpress.com/2011/04/19/greetings-from-argentina-an-obamaesque-land-of-crony-capitalism-and-a-warning-to-america/

 

https://danieljmitchell.wordpress.com/2011/08/18/report-from-world-economic-forum-gives-u-s-poor-grades-for-wasteful-spending-and-burdensome-regulation/ 

 

http://danieljmitchell.wordpress.com/2011/03/28/in-one-chart-everything-you-wanted-to-know-about-the-relationship-between-good-policy-and-economic-prosperity/

 

As Hayek noted in the Fatal Conceit, arrogant men will continue to believe they have the vision and intelligence to blend the benefits of the free market with the right type of design and control to produce a greater good.  Instead, their interference will continue to produce stagnation or outright misery.