No, not really. Denmark, Norway and Sweden are the best examples, and they've been around a lot longer than the US. They also have a higher life expectancy and a stronger middle class than America.
Those are not socialist democracies (no matter what they choose to be called).
They are capitalist with large and wrong social programs. But the primary reason it works for them is a mostly homogenous culture with shared values and expectations, also a smaller population. Far less negotiation and discussion and compromise has to occur to reach agreements and decide on policy. Far less gridlock.
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