If that's the case. Then it's best to test drive economic theories in test communities. Continue experimenting until you find what works best and implement that.Well sure, when a country is 100% high trust, high IQ, low time preference, K selection people, you can make it work for a little while. But then what happened?
When you have no central planning then you have huge risk/reward ratios. As the wealth accumulates at the top, these guys no longer want the risk so they cut the risk by selling the people out.
The robber baron capitalists sold out the American people and flooded them with foreign labor. The robber baron capitalists then feared they might actually lose on their "investments" so they sold out their country to a foreign hostile elite and put them in charge of the Federal Reserve. The robber baron capitalists then drug us into war after war for their own benefit. By the 1930's the robber baron capitalists were literally funding the Soviet Union and the genocide of millions, some say 30,000,000+ European Christians. Then they sent our boys off to die protecting these satanic monsters.
This will happen over and over when you allow the greediest of your society free rein over everyone else.
My point isn't that socialism is great. My point is it is all about the people in the system and the GOP's real stupid "socialism v. America" concept is just gaslighting their own base against their own needs.
I suspect it would look similar to the economic system of biblical Israel. And as I have advocated before 7 year debt jubilees was one of the measures that prevented inequality from growing to much historically in Mesopotamia. And released commoners from slavery so that they can be yeomen that contributed to the State:
We must pierce the smoke-screen of creditors and re-establish the historical truth. Repeated and generalised debt cancellation has occurred throughout history. Hammurabi, king of Babylon, and debt cancellation The Hammurabi Code is in the Louvre Museum, in Paris. The term “code” is...
People say it's unrealistic. But I'd say nonsense.