People are not embracing collectivism because they have accepted bad economics. They are accepting bad economics because they have embraced collectivism.
Ayn RandJust as man can't exist without his body, so no rights can exist without the right to translate one's rights into reality, to think, to work and keep the results, which means: the right of property.
Ayn RandShe fell asleep, lying there, her hand clasping his. Her last awareness, before she surrendered the responsibility of consciousness, was the sense of an enormous void, the void of a city and of a continent, where she would never be able to find the man whom she had no right to seek.
Ayn Rand