The British pound is stronger than American dollar and they have socialized health care among other thing. Currently they are issues with overreach of their democratic government. Economically speaking a lot of socialist programs would be better for the whole such as housing for the poor but capitalism ideals of "I had to earn mine" stops that. All system that we could use has many many flaws. That's why we have to use a mix.
It also helps to have way fewer people. The main problem with socialistic government is that it only works if the people live up to the best ideal people can be. Everyone contributes to the utmost of their ability 100% of the time. The moment this is no longer true it starts breaking down. If Britain suddenly reduced all their taxes by 60% for one year, so that everyone suddenly had that money instead of it going to the government, then called for a vote to end alot of their socialized programs and keep the new tax rate or keep the programs and put the tax rate back I think we would see some really interesting results.
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