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originally posted in:Liberty Hub
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6/23/2016 8:03:34 PM
32
Socialists - Explain Venezuela to me!
Seizing the means of production? Socialism. Or communism, depending on 1) the magnitude, and 2) whom you ask.
Venezuela's government seized the means of production, and began running many industries on its own. It enacted price controls. It nationalized the oil industry. It instated universal health care. It began running supermarkets. It tried to bring electricity to everybody by subsidizing it for the poor and middle class. High oil prices kept the nation afloat for a time, but socialism has a nasty way of catching up to you.
Oil prices fell and the cracks started to show. People queue in lines to enter supermarkets, only to find empty shelves. The items that they're allowed to purchase are few in number, and customers are fingerprinted as part of the nation's rationing system. Inflation has topped 700%. Healthcare is a disaster. According to the Venezuelan Pharmaceutical Federation, only 20% of required drugs are available. A lack of parts means that healthcare equipment is inoperable. 86% of x-ray scanners don't work.
The electrical grid is trembling. Blackouts are common. Because of this, government employees are only required to work 2 days per week, down from 5. This only makes problems worse, considering that the state controls the means of production.
My favorite part? The Venezuelan president Nicolas Maduro was [i]democratically elected.[/i] Is it fair to call him a democratic socialist? So, socialists, explain Venezuela to me? Why should I disregard it as an example of a socialist failure, especially compared to a more economically-free Chile?
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19 RepliesVenezuela's economy has long been largely dependent on oil. The market collapse in the 80's hurt the country's economy very badly, and by enacting several capitalistic changes to the already damaged economy, inflation, unemployment, and poverty soared in the 90's. This, along with the banking crisis Venezuela suffered in '94, leaves the country's economy to be an absolute shit storm. Said shit storm does not work with socialism, because as you can readily see from any country with a successful, socialistic economy, their success is dependent on high participation (low unemployment) and an aggressive market. Venezuela has neither of these, so it follows that socialism will not benefit the country. Imagine a ball of snow, that you roll down a hill to increase in size. Your argument is basically, "look how big that ball of snow is, that really sucks for anyone caught under it," neglecting how the ball got so big in the first place.
