What's Wrong With Venezuela?

https://www.nytimes.com/video/world/americas/100000005417220/food-inequality-in-venezuela-feeding-eight-on-scraps.html?smid=tw-nytimes&smtyp=cur

Hmmmmm, if only we could identify the ideology that led to this outcome.....

 

Interesting article. Sooner or later, the tendency of those in control to plunder other people’s money becomes overwhelming as everyone in government tries to get in on the action. Even your article admits corruption is widespread in Bolivia with increasing authoritarianism, and sooner or later a complete plunderer like Maduro will assume power. Power corrupts, and those more inclined to corruption tend to seek it most avidly.

And the article you cite does admit the following:

“There’s a good case to be made that poverty reduction would’ve been faster and more sustainable if the Bolivians hadn’t needlessly antagonized the private sector.”, possibly at the expense of economic equality.

And I have only started with the problems that inhere in socialism!

 

The talk about (gasp) Socialism is a red herring. The basic issue facing governments today is how to balance the two interests of economic efficiency and equity. Radical capitalism relies entirely on the trickle down system, which doesn't work because wealth tends to trickle up. Radical Socialism, complete with nationalized industries and distribution systems doesn't work either. But most industrial countries have mixed systems with strong safety nets for the less fortunate, medical care, etc. Those systems work. Scandinavian countries have private ownership of businesses and market economies which incorporate major elements of socialism. Some 90% of businesses in Sweden are privately owned but highly regulated and heavily unionized and the wealthy are heavily taxed. They seem to be doing just fine. We had that balance in this country in the past, but have been moving away from it under radical supply side economics. Reagan broke the power of the unions and ran up the debt, making it harder to do anything about the growing inequalities in this country and our Socialism for the Rich.

 

US-Led Economic War, Not Socialism, Is Tearing Venezuela Apart

Before Chavez, Venezuela was a free market paradise full of, you guessed it, endless exploitation by American oil giants, who paid just 1% tax on their billions in oil wealth. After Chavez kicked them out, the US government tried to help the oil companies by removing Chavez via a coup, and when that didn't work... they used economic warfare, sanctions, etc. It seems the plan is now to cripple Venezuela entirely so that the US can stage a military intervention and 'save' them by bringing the oil companies back.

The idea that this is 'socialism's fault' definitely holds a lot of appeal to simple minds, though.