Ambassador Nikki R. Haley at Hudson Institute on February 26, 2020. (Jessica Latos)

As socialism continues to be bandied about as a viable approach to governing by prominent politicians on the left, Ambassador Nikki Haley spoke forcefully in defense of capitalism and its fundamental ties to American democracy at Hudson Institute this week.

Drawing from her experiences as UN ambassador and governor of South Carolina, Amb. Haley warned of a "tyranny beyond anything Americans would recognize." In her far-reaching speech, she looked at socialism's harmful impact across the world while illustrating how capitalism protects and anchors the constitutional freedoms enjoyed by Americans. Here's a sample:

The biggest cause of human suffering is socialism. Socialism has failed everywhere. Instead of prosperity, it leads to poverty. Instead of opportunity, it creates dependency. Instead of hope for a better tomorrow, socialism means a living nightmare every single day.

See below for more highlights from her speech and the discussion.

Takeaways from Ambassador Haley

On the resurgence of socialism in politics:

These days, it seems like socialism is everywhere. It's in Congress, where an up-and-coming Congresswoman says, "Capitalism is irredeemable. It's at the highest levels of society and politics." Right now, the Democratic Presidential front-runner is an avowed socialist named Bernie Sanders. Only in a prosperous country like America can people be so flippant about capitalism and so naive about socialism.

Some think it's a politically incorrect word, but we shouldn't be ashamed of capitalism. It's another word for freedom and it springs from America's most cherished ideals.

We all know the most famous phrases from the declaration of independence. Yes, they mean freedom of speech, freedom of religion, and other fundamental rights, but the founders knew that economic freedom was also essential. What good are our rights if our homes and savings can be taken?

Socialists' track record:

Do you know where people aren't demanding socialism? Venezuela, Nicaragua, North Korea. Cuba and Nicaragua, I dealt with these countries as ambassador. My heart broke for their citizens. They live with tyranny beyond anything Americans would recognize.

The socialist dictator Nicolás Maduro, propped up by his Cuban socialist allies, has run Venezuela into the ground. The average Venezuelan lost 24 pounds in 2017 alone, 4 million have fled their homeland. They are literally fleeing socialism.

Ideological censorship in the US:

There was just a study that UNC did and I think it found 67% of college students found themselves censoring themselves. Colleges and universities, they don't teach you how to think, they teach you what to think.

When students are so fearful to speak out, because it will hurt their grade, or there'll be ostracized within their classes, you've got a real problem. Colleges and universities are there to allow people to figure out who they are. I think that we haven't been loud enough on this.

China's brand of faux capitalism:

When we helped China get into the World Trade Organization, [the US thought] they were going to start to think like the West. I think that that was naive and clearly it's not true. What it has shown is, when you look at their market now, they're much healthier. They're much stronger. The problem is, they're using all that economic strength against us. Now they've got another agenda.

But what has been interesting is when people see what it's like to live in a capitalistic environment where they can grow themselves and grow their way of life and be prosperous, they find the power of their voice.

China is seeing the resistance. They were caught flat footed with the protests in Hong Kong and I think that's just going to continue to grow because people, when they get that feeling of strength and what it's like to own property and to have a way to grow their life, they want that for their children. And when they don't get that, they speak out and they get loud and then conflict comes to bear.

Where the US should assume a larger role:

We made it a point at the United Nations to really talk about corruption because it wasn't being talked about. Transparency International came out and nine of the 10 countries dealing with corruption were the ones we were discussing in the Security Council.

Corruption hampers people's ability to put that money in their pockets, and it goes to those in authority. We've seen that in multiple countries. As the United States, if we give foreign aid, we want to know it's going to the people we're trying to help and not to the pockets of the dictators in the process. Corruption is a key factor to watch for when you're looking at prevention and you're looking at conflict possibilities. You always have to watch out for corruption.

Quotes have been edited for length and clarity

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