Look at all of the other "socialist" minded countries instead of cherry picking. Giving two countries as support is absurd, might aswell say capitalism doesn't work due to the great depression.
Im pretty sure I listed more than two Countries.
If your'e trying to say the Danes are a example of a working Socialist template than YOU'RE the one being selective
They have ALWAYS incentivized the creation of wealth and profit. Those are two concepts that don't fit into central planning.
Chavez rose to power under the pretense that he would give the wealth of the Country " back to the people."
But without the free market principles that efficiently allocate goods and services his Socialist utopia turned into a nightmare.
Government intervention corrupts and undermines the core principles of the Free market and then people like you point to the destruction as a example of Capitalisms failure
In the 90s the Democrats manufactured the false narrative of " discriminatory lending practices " and implemented new Regulations to force Banks to offer " equal credit ".
Ten Federal agencies ( Fair lending Task Force) were tasked with hunting down Banks who wouldn't or didn't comply with their arbitrary new standards. Banks were sued by the DOJ, by HUD and by Community activist groups like ACORN and Plaintiffs Attorney's like Barrack Obama.
The Democrats decided that the decades old lending standards were innately racist and through threats , DOJ lawsuits and executive actions they forced lenders to lower those standards.
In 1995, Bill Clinton co-opted the GSEs into the Subprime market by giving them " affordable lending " quotas that started out at 46 percent.
That meant Freddie and Fannie had to purchase 1 subprime loan for every prime loan they purchased. These loans were then bundled and sold off as Securities with a " AAA " rating.
In 1993 Homeowner-ship rates were 63 percent and by 2000 they rose to 68 percent. A unprecedented 5 percent increase in Homeowner-ship rates.
From 2000- 2008 they rose another 1 percent.
In 2008 the GSEs were declared insolvent holding over 5 Trillion dollars in debt.
Progressives like to point to the 2008 Subprime mortgage crisis as a example of the dangers of " Capitalism ".
The 2008 Financial crisis wasn't the fault of Capitalism or the Free market. It was caused by unprecedented Government intervention into the private sector and it was all predicated on a Lie.
That the Government would or could be a fair and unbiased arbiter of what was " fair " and undermining the principles of our free market economy would lead to a positive result.