But the sheer volume of spending tells us little about the political valence of government action.

Winning government power and using it to break the dominance of the capitalist class is a necessary condition for beginning the transition to socialism. A government run by a socialist party (or a coalition of left and working-class parties) would move to bring the economy’s key industries and enterprises under some form of social control. But that alone wouldn’t be sufficient. The bitter experiences of the twentieth century have taught us that socialism won’t further the cause of human freedom if the political and administrative structures of government aren’t thoroughly democratized.