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Unfortunately for theoretical economists, we are not allowed to run economics experiments on the whole of society to see definitively whether or not certain economic policies or systems work in practice. Millions of lives hang in the balance, so this is an ethical non-starter. But we can study countries that have experimented with socialism, communism, and laissez faire capitalism to see what the outcomes are. And the experiments have been done.
Check out our video on the Dutch East India Company, the most influential multi-national company in history, over at Epic Economics: https://youtu.be/zjD9QEmwKF0
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