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LESSON 2 · Capitalism, Socialism & the In-Between

The Freedom Debate

Economic freedom and political freedom do not always align the way ideologues claim. Capitalists argue that property rights and free markets are inseparable from personal liberty. Yet China built the world's second-largest economy using market capitalism while keeping tight political control.

But authoritarian capitalism thrives in Singapore and previously in Chile. Democratic socialism works across Scandinavia. China achieved massive economic growth without political freedom.