In the US, there is a protectionist program in place. Many political economists and business analysts said it would cause inflation and unemployment. These analysts, however, currently describe economic conditions in the US as favorable, or good.
Supposedly, economic conditions would deteriorate, like in the early 20th Century.
Tariffs were used in the early 20th Century to resist a declining rate of profit. The tariffs effectively protected the rich from the natural mechanics of free trade; and the result was deterioration of economic conditions. Immigration kept labor costs at disinflated, free-market prices against inflated prices for goods afforded protection.
Free-trade agreements emerged into the 21st Century resisting protectionist programs. The result has been to export high-paying jobs while importing cheap goods and labor, all in the name of liberty.
Just like in the early 20th Century, there is record, income inequality; and, once again, the spectre of socialism to force a distribution on the accumulation. A distribution happens so that the free market can actually occur on demand, effectively adjusting for the risk when the value is returned to form the capital.
Most people don’t care if a small group of elites claim to own all the capital if the return is actually risk adjusted. (See the previous article on the risk-adjusted return).