15 Socialist Countries that Have Succeeded

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9. Belgium

Gini Coefficient: 27.4

Belgium is a country in western Europe. It is a democratic socialist country with a very high level of development. It ranks at the 22 spot in Global Competitiveness, has a decent innovation index score of 49.10 and a social progress score of 89.46. Belgium’s economy centers around a number of key factors. The market is free but the tax burden is relatively high due to government spending on healthcare and other welfare services.

Despite this, Europe lacks the level of tech innovation and progress seen in the US. Almost all major companies working on key technologies are in the US, including Amazon.com, Inc. (NASDAQ: AMZN), Facebook, Inc. Common Stock (NASDAQ: FB), Alphabet Inc Class A (NASDAQ: GOOGL), Tesla Inc (NASDAQ: TSLA), Twitter Inc (NYSE: TWTR) and Apple Inc (NASDAQ: AAPL).

8. Ireland 

Gini Coefficient: 32.8

The Republic of Ireland is located in Northwestern Europe. It grabs the 8th ranking on our list of 15 socialist countries that have succeeded. It is a democratic socialist country with an innovation score of 53, Global Competitiveness rank of 24 and a social progress score of 90.35. The economy is mixed with a free market and huge government spending on welfare.

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