One simple lesson: Socialism does not, and can not work. Hitler’s National Socialism, Stalin’s Soviet Socialism, Mao Zedong’s Communist Socialism and Pol Pot’s genocidal Socialism: none have ever worked, for two simple reasons:
- People won’t work without the possibility of reward: the profit motive is hard-wired into human DNA, and
- Central Planning cannot run an economy as well as the free market’s price signals balancing supply and demand. Check out Venezuela’s wage and price controls which impoverished a country that should be rich.
Your lesson on Europe is deeply flawed too, and ignores how America funded the rebuilding of Europe, and then how Europe’s EEC closed it off from free trade and competition with the rest of the world. You’ve avoided mention of the bankrupt countries of Spain, Portugal, Greece and Italy, and the fact that Europe has been freeloading on American funding of NATO for decades.