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The economic system follows from the type of government system and the degree of control of economic activity by the government defines the type of economic system.
A constitutionally limited government based on laws protecting individual rights to act and own property creates a free market economic system, aka "Capitalism" which has always resulted in greater productivity and prosperity.
A government which regulates or prescribes economic activity creates "controled" economic systems, aka socialism and communism, both of which always lead to less productivity and prosperity.
The "motto" of Capitalists should be (and always should have been), "Give me liberty and I'll give you a higher standard of living."
It should be followed by, "Don't give me liberty and I won't make a damn thing."
I can do with less prosperity, but never with less freedom.
Period.