If only things were that simple.

At the end of the day, we have the Classic Liberal model - which is responsible for most of the growth of living standards and wealth creation in human history.

Then, we have every other system ever tried.

The statement "protecting quality of life" would seem to stem from a viewpoint that holds forth as a truth the concept that wealth simply exists and flows forth - and is something to be distributed fairly, where pesky things like profit motive simply get in the way.

For who could be free when every other man's humour might domineer over him? - John Locke (2nd Treatise, sect 57)