The United States had the fastest growing economy when it was a mostly free market economy. What happens to a country that turns to a socialist economy? Look no further than Venezuela.
"Venezuela was once one of Latin America’s economic powerhouses …A growing number of Venezuelans are going hungry in a food shortage and dying from treatable ailments in squalid, ill-equipped hospitals …Until political prisoners are released, the prospects for a restoration of democratic rule are very dim …Inflation has soared to an estimated 700 percent, while people in this oil-rich nation are left digging through piles of trash for scraps of food."
https://fee.org/articles/venezuelas-socialist-hellscape-captured-in-28-horrifying-headlines/
"Venezuela was once one of Latin America’s economic powerhouses …A growing number of Venezuelans are going hungry in a food shortage and dying from treatable ailments in squalid, ill-equipped hospitals …Until political prisoners are released, the prospects for a restoration of democratic rule are very dim …Inflation has soared to an estimated 700 percent, while people in this oil-rich nation are left digging through piles of trash for scraps of food."
https://fee.org/articles/venezuelas-socialist-hellscape-captured-in-28-horrifying-headlines/