Socialism sounds great. It has always sounded great. And it will probably always continue to sound great. It is only when you go beyond rhetoric, and start looking at hard facts, that socialism turns out to be a big disappointment, if not a disaster. -Thomas Sowell
Despite having more oil reserves than Saudi Arabia, and in fact more proven oil reserves than any country in the world (8 times more than the US), oil-rich Venezuela’s economy is imploding and collapsing under the burden of socialism... -Mark J. Perry
A society that relies too heavily on redistributing wealth eventually runs out of wealth to redistribute. The historical record is clear. It’s capitalism that brought billions of people out of poverty in the 20th century. It’s socialism that enslaved them and impoverished them. -Garry Kasparov
Prisoners are dying of hunger and disease inside a prison as horrific footage emerges of the men looking like concentration camp victims. In the video, smuggled out of the jail , the inmates film their frail bodies and that of a man who died just the day before.
Food and medicine has dried up in the Venezuelan prison as local police are reportedly blocking deliveries of supplies, including clean water. The footage has shocked many across the country and has left the inmates families calling on authorities to act, before any more die.
Incompetence, Oops, Socialism
Last month 20 Venezuelans were arrested as they were trying to sneak into Curaçao, the island country in the southern Caribbean Sea, using a small boat — just like Cubans rafters do to make their way to Florida.
According to a Datin Corp poll released last week, 57 percent of Venezuelan registered voters want to leave the country. This means that approximately 12 million people want out, almost half of the 30 million who populate the country if we take out children and teens.
Government, Incompetence, Oops, Socialism, Regulation
Bogota (AFP) - Venezuela's economic crisis has sent a huge but largely ignored wave of people into Colombia, and many more could be on the way, a senior UN refugee official said. "It's a silent arrival of a lot of people who are crossing the border and staying illegally on the Colombian side," said Martin Gottwald, the United Nations Refugee Agency's representative in Colombia.
Venezuelans are also sneaking across the border even when it is closed, driven abroad by the economic crisis, violent crime and a health care system teetering on the brink of collapse.
Government, Incompetence, Threats, Oops, Economy, Socialism, Law, Regulation
President Nicolas Maduro threatened Saturday to take over idle factories and jail their owners following a decree granting him expanded powers to act in the face of a deep economic crisis... Speaking to supporters in the capital, Caracas, the president ordered “all actions to recover the production apparatus, which is being paralyzed by the bourgeoisie.” He also said that businesspeople who “sabotage the country” by halting production at their plants risk being “put in handcuffs.”
The condition of Venezuelans is two-tiered—a classic case of the haves and the have-nots. In this case, what you have or don’t have is foreign currency, which allows the elite class to continue purchasing foreign goods... One wonders what the allure is of a socialism that impoverishes its citizens but enriches its leaders. But of course, this is the only kind that seems to have ever existed. -The American Interest
Government, Incompetence, Oops, Fear, Socialism, Regulation
Despite breathless coverage of Venezuela's vanishing supply of condoms, toilet paper, and beer, perhaps the country's most debilitating shortage has been that of food, which appears to be a motivating factor for growing antigovernment sentiment. "I want the recall because I don't have food," one woman told the Venezuelan commentary site Contrapunto, referring to a referendum to recall President Nicolas Maduro that has so far reportedly drawn more than a million signatures in support. "We want out of this agony — there is too much need in the streets," another woman told Contrapunto. "We have much pressure because there is no food and every day we have to ask ourselves what we are going to eat."
Government, Incompetence, Oops, Economy, Socialism, Theft
The situation in Venezuela has become so bad that even soldiers are struggling to support themselves. Over the weekend, six members of the Venezuelan military were detained by local authorities for stealing goats, the Venezuelan newspaper El Nacional reported Sunday. It said the soldiers confessed to stealing the goats and said they did it to feed themselves, since they had no food left in their barracks.
“Socialism is an alternative to capitalism as potassium cyanide is an alternative to water.”
Government, Incompetence, Funny, Socialism, Sexism
The President of Venezuela has urged women to stop using hairdryers and offered alternative styling tips as the country’s energy crisis continues... 'I think a woman looks better when she runs her fingers through her hair and lets it dry naturally,' Nicolas Maduro said... Caracas occasionally shuts down because of citywide losses of power and some rural areas are living mostly in the dark.
Liberal, Government, Narrative, Economy
In the empirical analysis, for a panel of 108 countries from 1970-2008, we use different proxies for government size and institutional quality. Our results, consistent with the presented growth model, show a negative effect of the size of government on growth. Similarly, institutional quality has a positive impact on real growth, and government consumption is consistently detrimental to growth.
Editorial, Oops, Economy, Socialism
Things did not work as planned, however. Structuring a community along rational lines was extremely difficult. There weren’t enough skilled laborers. Many of the residents were lazy. Shortages were commonplace. Central planning hampered the efficient allocation of meals. Factions split off from the main group. The community closely monitored the activities and beliefs of every member. Alcohol was banned. Children were separated from their parents; one later said she saw her “father and mother twice in two years.” Owen expelled malcontents. Only his generous subsidies held New Harmony together. And not for long. Owen’s “new empire of peace and good will to man” fell apart within four years.