Except authoritarian government is not good, in the long term, for an economy, because of 1) corruption, and 2) misallocated economic resources, whether by arbitrary state edicts or, again, corruption.
Democracies will always perform better economically than authoritarian governments, but only when measured over the long term.
Authoritarian and directed economies can perform better over short periods of time, but inevitably fail when stale leadership runs out of ideas.
You can look at 80s Japan, 2010s China, 2010s Venezuela for examples.
Hopefully the US will diverge from the path to absolute oligarchy soon, or we’ll add ourselves to that list.
Except authoritarian government is not good, in the long term, for an economy, because of 1) corruption, and 2) misallocated economic resources, whether by arbitrary state edicts or, again, corruption.
Democracies will always perform better economically than authoritarian governments, but only when measured over the long term.
Authoritarian and directed economies can perform better over short periods of time, but inevitably fail when stale leadership runs out of ideas.
You can look at 80s Japan, 2010s China, 2010s Venezuela for examples.
Hopefully the US will diverge from the path to absolute oligarchy soon, or we’ll add ourselves to that list.