Quotes by Mark E. Petersen:

How many of the Latter-day Saints truly believe in the Constitution of the United States? That Constitution stands for free initiative. That is free agency. In a business sense we have spoken of it as free private enterprise. Are the Latter-day Saints as a people willing to accept the principle of free enterprise? There are some among us who are teaching that free enterprise is wrong. These same individuals would do away with the capitalistic system setting forth its many abuses. It is true that many abuses of the capitalistic system have taken place. Nevertheless, capitalism is an outgrowth of free enterprise in business. Free enterprise in business is an outgrowth of free enterprise in a general sense, and free enterprise in a general sense is free agency—the principle to which Latter-day Saints are committed. If we were to ask those who oppose free enterprise in business, including the capitalistic system, what they would put in the place of these things, they have but one answer, which is socialistic. They would have government-operated and government-controlled business,* which is Socialism. Socialism is a step on the road to Communism.** Communism is anti-Christ. Are the Latter-day Saints willing to engage in a program that would lead to Communism? Are they willing to aid and abet the antichrist in any sense? Are they willing to accept Socialism instead of freedom? Not if they understand their religion.

* There are different degrees of state governance and control of the economy.
** Socialism is the transitional period between capitalism and communism.
See Ezra Taft Benson quote 2 from the bottom.
Church News, April 16, 1950.

The Gentiles were to come forth upon this land of America. They were to be set up as a free people. They were to be thus established by the power of the Father, and the purpose of it all was that the gospel might come forth and be preached to the children of men in order that God could fulfill the covenant that he had made “with his people, O house of Israel.” And why was freedom so necessary in connection with the restoration of the gospel and its promulgation among the children of men? In order that those to whom the gospel would be restored might have the freedom of speech to preach the gospel the freedom of the press to publish the gospel freedom of assembly so they could gather together in congregations and worship the Lord and religious freedom so that they could worship God according to the dictates of their own conscience.

Conference Report, April 1946, pp. 167-172. In Defense of Liberty.
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