This one-hour lecture was given by Dr. Ben Powell (Texas Tech Univ) to entrepreneurship students at Oklahoma State University in November 2019 (shortly after the 30th anniversary of the fall of the Berlin wall).
Dr. Powell discusses first-hand experiences he and fellow economist Dr. Bob Lawson (Southern Methodist Univ) observed while traveling to various socialist and socialist-leaning countries around the world.
Their findings are documented in their informative, yet irreverent, book, Socialism Sucks: Two Economists Drink Their Way Through the Unfree World (https://www.amazon.com/dp/162157945X/).
Here is a quick overview:
Sweden = "Not Socialism"
Venezuela = "Starving Socialism"
Cuba = "Subsistence Socialism"
China = "Fake Socialism"
Russia & Ukraine = "Hungover Socialism"
Georgia = "New Capitalism"
This video represents the assigned Week 04 content for the seminar Entrepreneurial Value Creation in Society (community Spring 2021 Seminar, https://hive.blog/trending/hive-112987).