Key Facts

“To talk about the importance of how dangerous socialism can be, in 1968 Sweden had the fourth best economy in the world. This was based on a very vigorous free-market economy. Now in the 1960s, that was a time when there was a lot of political unrest, Vietnam War, there was, like it is today, there was rebellion against the status quo, and the Swedish people voted in a socialist government. And again, where socialism was couched within social issues, cultural issues, political issues, in addition to the economic issues.

“Well ultimately, they became very unhappy that they did that, because the Swedish economy fell from fourth in the world to fourteenth in the world very, very quickly. The government administered 70 percent of the economy. Private-sector job loss in Sweden was equivalent to what would happen here as if we had lost 27 million private-sector jobs. Sweden’s a much smaller country, but that is the equivalent job loss that would have happened here.

“Now by 1991, so about 23 years after Sweden started their socialist experiment, Swedish people were entirely fed up and they voted in a reform government, and they continued to vote in reform governments. And since 1991, Sweden has grown faster than any other western European economy.”

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