According to Jesús Fernández-Villaverde and Lee E. Ohanian in How Sweden Overcame Socialism, Sweden's roughly 20 year experiment in socialism began to give way to market based system in the early 90s after incomes dropped, unemployment rose, and government debt grew along with transfer payments.
The changes have helped Sweden reach the 15th spot in Heritage Foundations economic freedom Country Rankings. The United States is 18th.
The South American countries that socialism in the U.S. would more likely resemble all rank pretty low on the list.
We should all hope that the people who want to lead us down this path will recognize the problems with socialism and not send us into a long miserable ultimately failed experiment before they can acknowledge what most of us already know.
------
3:28 PM 1/11/2019
Comments