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The socialist experiment proved to be a failure. It proved not only an isolated failure, but also a global one - every political and economic system influenced by socialism suffered from a severe crisis in the last decades of the 20th century. The soft socialism of the democratic welfare states...
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The economic approach to politics revolutionized the way scholars in economics and political science approached the study of political decision-making by introducing the possibility of government failure. However, the persistent and consistent application of neoclassical models of economics also...
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