Milton Friedman's prediction that countries with economic freedom would inevitably develop political freedom was applicable when China was still liberalizing economically in the Deng Xiaoping period, but has proven false as China has combined capitalist economics with authoritarian political control, showing that economic liberalization does not necessarily lead to political liberalization.
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Unidentified Speaker — Global Macro Investing And Geoeconomics With Hedge Fund Inv… [r_BDYDx5Pk4]Evidence Quote
“countries with economic freedom will inevitably develop political freedom...China's certainly uh become more of a capitalist economy”
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Global Macro Investing And Geoeconomics With Hedge Fund Investor Kyle Bass | Hoover Institution— Hoover InstitutionCreated: 8/11/2026, 7:32:16 AM
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