At least a part of human history can be regarded as a competition between different systems based on different philosophies and sets of values. The competition between the "free" and "market economy" countries and the "communist" or "socialist" ones leading to and during the cold war era and beyond was one typical example.
For some periods, it can appear that the tightly regulated systems have an edge. In the years around the Great Depression, for example, it seemed that the "free world" was in shambles, and the socialist system, i.e. the Soviet Union at that time, had an edge. But trends at one period can be deceiving. We all know what actually happened after that.
In today's world, a new type of competition is emerging. At one end, we have a more or less free system where different ideas and opinions compete in the economical and political context. At the other end, we have a social system where things are tightly controlled, without a democratic election, and limited access to the internet.
At one period, it may appear that the controlled system is economically thriving. People might succumb to the allurements of control at one time, as it is certainly easier for the politicians (those in the power, that is), and superficially benevolent for the "stability" of society. In the long run, however, it is my bet that the free system would gradually outgrow the controlled system. And I have no intention of approving or even advocating the control approach.