Comment Socialism isn't the problem. "Crony" is. (Score 2, Insightful) 247
The Nordic countries have socialism. It works well for them.
Venezuela had crony socialism, where the wealth of the state was distributed to elites, with the poor getting enough "bread and circuses" to keep them quelled for a while. It did *not* work well for them in the end. The problem wasn't the "socialism" part, it was the "crony" part.
The USA has crony capitalism. This is more stable than crony socialism, but I suspect the endgame may be similar once the federal debt becomes too large to finance and they have to inflate it away.