Jamestown was the socialist experiment that failed.
“Jamestown was the socialist experiment that failed.”
Socialism? Jamestown in fact was a joint stock company, the Virginia Company, financed by investors in London who hoped for a return on their investment. The colonists were financially supported by the Virginia Company.
The colony didn’t fail but the Virginia Company went bankrupt in 1624 and the colony was reorganized as a royal colony ruled by the Crown.