Socialism's Resurgence

The revival of socialism in recent years can be attributed to a collective amnesia regarding past failures and a new generation's reliance on government intervention during crises like the financial collapse and the pandemic. As technology evolves, the possibility of centralized economic planning re-emerges, prompting a reevaluation of how prices and resources are managed. This shift contrasts sharply with the economic growth experienced from 1980 to 2010, which drastically reduced global poverty rates.