Munger’s criticism in this issue of The Independent Review gives the author an opportunity to clarify why cases of “actually existing socialism” can be identified with help from the Economic Freedom of the World Index and the State Economic Modernity Index. The first index focuses on a necessary condition of socialism (low economic freedom), whereas the second index helps in excluding non-socialist states with low economic freedom.

Ryan H. Murphy is a research associate at the O’Neil Center for Global Markets and Freedom in the Southern Methodist University Cox School of Business.
AsiaDemocracyEconomic PolicyEconomyEuropeInternational Economics and DevelopmentPhilosophy and ReligionSocialism, Communism, and Collectivism
Other Independent Review articles by Ryan H. Murphy
Fall 2024 Ranking Nations: The Value of Indicators and Indices?
Winter 2023/24 Singapore’s Small Development State
Fall 2021 10% Less Democracy: Why You Should Trust Elites a Little More and the Masses a Little Less
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