What Caused Venezuela’s Tragic Collapse? Socialism.
The collapse of Venezuela’s economy is both horrifying and predictable, and the world needs to understand why.
-----------
Subscribe to our YouTube channel:
Like us on Facebook:
Follow us on Twitter:
Subscribe to our podcast at iTunes:
Reason is the planet’s leading source of news, politics, and culture from a libertarian perspective. Go to for a point of view you won’t get from legacy media and old left-right opinion magazines.
----------
Venezuela has the world’s largest proven oil reserves, and it was once Latin America’s richest country. Today, most grocery store shelves are empty, and Venezuelans are so hungry that they’re killing zoo animals for sustenance. Toilet paper, diapers, and toothpaste are luxury goods. Venezuelan hospitals have disintegrated, children are dying because they can’t get antibiotics, and the infant mortality rate is higher than Syria. The capital city of Caracas is the murder capital of the world, and just 12 percent of citizens feel safe walking alone at night, which is the lowest figure reported in the world.
The government blames slumping oil prices for the desperate situation. The real cause is the socialist economy. The government sets the price of staples such as rice, pasta, and flour, resulting in chronic shortages. Former President Hugo Chavez nationalized industries, confiscated property, and kicked out foreign companies. The government is trying to print its way out of the crisis, resulting in a 700 percent annual inflation rate. After a sham election, President Nicolas Maduro, the handpicked successor of Hugo Chavez, is rounding up his opponents and putting them in jail.
Despite this, Maduro and his predecessor still have their defenders, ranging from Sean Penn to Michael Moore to Naomi Klein, who once signed a petition saying “We would vote for Hugo Chavez“ and praised the autocrat in 2007 for creating “a zone of relative economic calm and predictability.“ In 2013, journalist David Sirota praised Hugo Chavez’ “economic miracle,“ writing that the socialist leader had a “record that a legacy-obsessed American president could only dream of achieving.
The real lesson of Venezuela’s tragic collapse is that real socialism always leads to economic breakdown and political repression. Those of us in wealthier, freer countries need to keep Venezuela in mind as we confront calls for more regulation and government control of all aspects of our own lives.
Produced by Todd Krainin. Written by Nick Gillespie. Camera by Jim Epstein.
1 view
52
14
2 months ago 00:04:48 1
John Legend - Preach (Official Video)
2 months ago 00:03:26 1
Billie Eilish - bad guy
2 months ago 00:03:57 1
De La Soul - All Good? (Official Music Video) [HD] ft. Chaka Khan
2 months ago 00:03:28 1
What I’ve Done (Official Music Video) [4K Upgrade] - Linkin Park
2 months ago 00:00:16 1
They spilled oil to make cop loose control. #mopar #cops
2 months ago 00:45:04 1
The Return of the Anunnaki Movie | Ancient Gods Return
2 months ago 00:03:15 1
The Emptiness Machine (Live) - Linkin Park
2 months ago 01:39:57 1
Michael Moore Presents: Planet of the Humans | A Film by Jeff Gibbs | Full Documentary
2 months ago 00:03:40 1
Starbomb - Nintendo Online’s Greatest Announcement (Official Video)
2 months ago 00:03:39 1
Jackson Wang - 100 Ways (Official Music Video)
2 months ago 00:04:07 1
BENEE - Happen To Me (Official Music Video)
2 months ago 00:08:18 1
Placebo - Song To Say Goodbye (Official Music Video)
2 months ago 00:04:20 1
Devin Townsend ’Jainism’ (Official Promo Video)
2 months ago 00:01:25 2
WIN 1000 ENERGY! ⚡ TASTE THE BEST AUTUMN LEMONADE 🏴☠️
2 months ago 00:03:05 1
slenderbodies - crazy (official music video)
2 months ago 00:03:34 1
PALAYE ROYALE - Been Too Long
2 months ago 00:03:53 1
Distant Past - No Way Out (Official Video)
2 months ago 00:03:39 1
Blue System - Magic Symphony (Peters Popshow ) (VOD)
2 months ago 00:03:21 1
The Emptiness Machine (Official Music Video) - Linkin Park
2 months ago 00:06:05 1
Madonna - Bad Girl (Official Video) [HD]
2 months ago 00:03:18 1
Rag’n’Bone Man - Human (Official Video)
2 months ago 00:09:27 1
2025 Lamborghini Revuelto - Sound, interior and Exterior Details
2 months ago 00:35:48 1
Аутизм. Признаки аутизма, постановка диагноза, мифы о прививках. Autism in Russia.
2 months ago 00:08:09 1
I Survived Tokyo’s DEADLY Hail and Storm Here’s What Happened in Japan