The recent election of democratic socialist candidates in major U.S. cities, such as New York City's mayor-elect Zohran Mamdani, highlights a cultural shift toward economic models that have failed everywhere they have been tried. If the United States abandons the principles of free exchange, private enterprise and open competition, the result will be predictable: declining invention and innovation, lower living standards and fewer opportunities for future generations.

Capitalism has lifted more people out of poverty, created more wealth and expanded human potential more than any system in history. Its defense is not merely an economic necessity; it is a moral imperative.

Central planning can't compete with free markets

In his famous essay The Use of Knowledge in Society (1945) , Fried

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