So the free market has failed us, capitalism is dead, we’re all headed into the biggest recession ever, blah blah blah…
Put things into perspective here. Just take a look at nations which have been historically or are currently Socialist/Communist compared them to nations which have applied free market economics.
Cuba? Poor and underdeveloped.
Zimbabwe? 89.7 thousand million million million % inflation rate, land of starving billionaires.
Vietnam? Poor and underdeveloped but now embracing capitalism.
China? Heartily embracing capitalism, imagine if it had done so half a century ago.
Compare that last one to Ronald Reagan’s 16 million new jobs, 9.5% drop in inflation and 3.4% GDP growth.
So maybe free market capitalism veered off the road awhile and got a punctured tyre or two. It’s still magnitudes more efficient than crawling on hands and knees along the road of human advancement… While strewing broken glass into your own path (aka nationalizing businesses).