A phrase uttered often in political discussions is "Socialism works well in theory". Supporters and opponents alike will claim this to be true. However, this is completely false. Socialism is a system in which the people who do well are robbed and are forced to give up sums of money for "the greater good". It robs the people of the fruits of their own labor. The far left would like people to believe that with more extensive taxes and a complete switch in direction to socialism from capitalism is a wonderful idea.
Bernie Sanders and Alexandria Ocasio-Cortez claim that a surrendering of rights and giving the government more power will provide more economic security. What a socialism does is it takes away incentives to innovate and succeed. Multiple real life cases have proved this such as the crises in Cuba, Nicaragua, and more recently Venezuela. Venezuela had tremendous wealth that was squandered and stolen from the people who work hard and do well. China and Russia have funneled billions of dollars into the failing Venezuelan economy and still it is one of the worst in the world.
The proponents of socialism will cite the Nordic Countries as tales of success in the world of socialism. However, these economies are ranked among the best for economic freedom and the welfare states are built upon the power of open market capitalism. Even more ludicrous is the term Democratic Socialism. The term relies on the idea that democratic is just. Democratic does not always mean just. The platform in North Korea is democratic, but as many of you know, the elections are single candidate with Kim Jung Un as the only candidate.
Famous politicians such as Sanders and Ocasio-Cortez tout that they will do socialism correctly and other systems have been corrupted. If a system is so easily defiled in real life circumstances, then how is it a good economic policy? Under conservative presidents, the United States has seen more economic growth than under liberal presidents and that is not a coincidence. The United States has become the world's sole superpower under the guidance and freedom of capitalism.
So I finally say: no, socialism does not work well in theory.