Public Choice and Socialism.

The idea of constructing a rational economic order through state control dominated 20th century public policy. The theory of socialism swept the intellectual world by grabbing the higher moral ground, and in the policy realm, socialism exerted its influence by creating political revolutions in Russia, China, and throughout the underdeveloped world. Less obvious, but no less important, was socialism's influence on the policies of non-socialist countries. The great "liberal" democracies all moved in the socialist direction in terms of public policy throughout the 20th century. The rise of the democratic welfare state in the UK and US and the explosion of the government's regulatory role in these economies are all manifestations of the socialist victory in the world of ideas. [ABSTRACT FROM AUTHOR]