From 1985 to 2015, China, Hungary, and Israel outperformed other cases of actually existing socialism in terms of real GDP per capita, income and wealth equality, education, infant mortality rates, and life expectancy. Not only did those three countries liberalize their economies over that period, but each moved closer toward the U.S. model of liberal market institutions than toward the Scandinavian welfare-state model.
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|Other Independent Review articles by Ryan H. Murphy|
|Fall 2018||Reply to Michael C. Munger|
|Fall 2017||The Diseconomies of Do-It-Yourself|
|Winter 2015||The Unconstrained Vision of Nassim Taleb|