Illustrate the reason many socialist countries experience

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Q. Jorge Martinez is a well-educated entrepreneur who operated a small trade in his home country of Florentina. At the encouragement of his American relatives, Jorge recently immigrated to the United States and applied for U.S. citizenship. "In Florentina, tax rates were very high," Jorge complained. "The government used the taxes I paid to finance all sorts of social programs to help the less fortunate. While this is a noble goal, it has really undermined the profit incentive of individuals such as me. I really feel which these high taxes have stifled economic growth." Jorge's comments illustrate the reason many socialist countries are experiencing a(n).

Reference no: EM1391174

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