Many socialists honestly believe that massive state control is the best way forward. They want to believe that humans can engineer heaven on earth. They fear the market and love the totalitarian hand of the state. Why? Social justice we are told.
This ignorance and general adherence to the religion of big government has brought untold misery to those unlucky enough to have lived under socialism over the past century. And guess what? “The Nordic model” ain’t so hot either as we’ve seen in recent years.
Socialism always fails eventually. The degree to which it undermines an economy depends on the degree to which socialism has infected a particular economy. A little bit of socialism? A little bit of dysfunction. A lot of socialism? A lot of dysfunction.
(From The PanAm Post)
Only 230,000 companies remain of the 800,000 that opened in Venezuela during Hugo Chavez’s regime, meaning 570,000 have shut down.
Price controls, labor laws and threats are the main reasons that experts think caused Venezuela’s industrial collapse, and which left the business sector in ruins.
According to unofficial and preliminary figures from the Central Bank of Venezuela, the 2016 inflation was 830 percent and the Gross Domestic Product fell 23 percent.