Event
Geography, Technology, and the Extent of Markets: A Method with an Application to the Wealth of Nations
With Stephen Haber, Hoover Institution Park L. Loughlin Senior Fellow and Jordan Horrillo, Hoover Institution Fellow
April 23, 2026
Published: June 19, 2019
Many Americans support “democratic socialism” and point to Sweden as a successful example. However, Sweden’s experiment with socialist policies was a disaster that significantly reduced its economic growth for decades. To restore growth and prosperity, the country had to undertake major market-based reforms.
Discussion Questions
- Despite the results, why is there growing support for democratic socialism?
- Can democratic socialism ever function properly?
Additional Resources
- Read “How Sweden Overcame Socialism” by Lee E. Ohanian and Jesús Fernández-Villaverde, available here.
- Watch “Socialism’s Empty Promises” by Milton Friedman, David Davenport, Allan Meltzer, Thomas Sowell. Available here.
- Read “Lessons From The European Welfare State” by Allan H. Meltzer. Available here.
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