Kinda surprised I'm not seeing 100% agreement with his statement on this one (if people are using the terms by their actual definitions, and the not the contemporary redefinition some people use to describe "What Denmark Has")
The history speaks for itself on that one.
The few actual communist & socialist countries left on the planet either have people living in terrible conditions and/or are under the thumb of authoritarians. (N. Korea and Cuba). The ones still closely treading that line (Belarus and Azerbaijan) are in a state of unrest.
And some will dismiss the concerns a bit, and suggest that the only reason it's not working well in Cuba is due to our embargo. However, that defense falls flat for a couple reasons
1) If a socialist or communist state needs to rely on other countries' market economies to be able to survive, then it's not a sustainable system.
2) The 20th century was replete with examples of trying it and failing (without being in the situation of having Cuba's unique set of circumstances)
East Germany, Poland, Czechoslovakia, Hungary, Romania, Bulgaria, Albania, Georgia, Ukraine, Moldova, Armenia, Kazakhstan, Uzbekistan, Turkmenistan, Kyrgyzstan, Tajikistan.
All of those countries had each other as comrades and allies, and Mother Russia watching their back and trying to artificially prop up their economies, and they still failed.
But hey, you never know, maybe the 21st time will be the charm.
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Although, it should be noted... it really says something about it when the major players (Russia and China) that tried to apply the principles, and were the biggest advocates for it in the first place, decided they don't want to do it anymore and switched to more market based or hybrid economies.
When the chef who made the chicken in the first place says "I'm not so sure about that chicken recipe we used, something doesn't smell right and the last 21 customers who ordered it got sick", you may want to order the hamburger instead.