Historically we can see that socialism is not an effective way to administrate a country, but there are young people that still promote this philosophy. Economists, Roberto Lawson, and Benjamin Powell show their way through different countries who practice socialism and demonstrate why it isn't a good economic system.

To write their book, the authors explain that they went to different countries that are or were socialist, this to analyze and evaluate if their economic system had not only affected the people but also their national products. These are the visited countries with their main characteristic: 

  1. Not socialism - Sweden    
  2. Starving socialism - Venezuela   
  3. Subsistence Socialism - Cuba    
  4. Dark socialism - North Korea    
  5. Fake socialism - China   
  6. Hungover Socialism - Russia, and Ukraine 
  7. New Capitalism - Georgia       

Powell describes socialism as the abolishment of private property. He comments that Sweden is not a socialist economic-based country, because businesses are private, they just have high taxes and a large welfare state that slows their economic growth. Lawson also mentions Venezuela, a country that has no longer democratic socialism because democracy was lost in a dictatorship, and now the government doesn’t have money to import enough food for the country.

I could maybe stand to lose ten kilos or something. I’d be nice, but this is a whole country that is losing it, and they’re not on a diet, they’re literally having trouble feeding themselves.” - Roberto Lawson 

Then, they continue describing other countries and what socialism has done to them, leaving the people with no options to improve themselves and their culture, with no electric light, without liberty or with a corrupt Government

Lawson presents Georgia, the country that has developed new capitalism that has been beneficial for the population, where they achieved to end corruption and develop economic growth. 

The young people who identify with socialism, very few identify with by its defining characteristic, abolishing private property and replacing it with collective ownership and control, without actually understanding the economic system.” - Benjamin Powell

To conclude, the authors share that after this journey, they went back to America to show their results to the new socialistic minds and prove to them that the socialism system doesn’t work for economic development.


Conferencistas

Professor of economics and director, Free Market Institute

Doctor in Economics

IDEAS DE LA LIBERTAD

Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín