Is socialism to blame for Venezuela's never-ending crisis?

[Suppressed]

Is socialism to blame for Venezuela's never-ending crisis?
Though '21st-century socialism' is implicated in Venezuela's collapse, so too are many characteristics of capitalism.
by Asa Cusack    31 May 2018
https://www.aljazeera.com/indepth/opinion/socialism-blame-venezuelas-crisis-180530095418091.html

[...]

Inflation is spiralling out of control, oil production is plummeting, foreign assets have been seized, there are serious shortages of food and medicine, tens of thousands are fleeing the country, and the incumbent government of Nicolas Maduro has increasingly weakened the country's democratic instruments to cling to power.

The natural question in a country that boasts the world's largest proven oil reserves is, how did it come to this? Many have latched on to a simple answer: socialism. But is it really that simple?

[...]

First, it is important to realise that Chavez chose to call his transformative project "21st-century socialism", but Venezuela's economy remained market-based and private-sector dominated throughout his time in office.

Though the social economy and the public sector were heavily promoted - including through nationalisation - the private sector was expected to remain dominant, and it did. A centrally planned socialist economy like Cuba's was neither the aim nor the reality.

[...]

[Suppressed]

Interesting apologetics for the failure of socialism.  When you institute an authoritarian immoral element like socialism, it undermines even the best of capitalism.

[Oceander]

The author is an exemplar of the “useful idiot” species.

[massadvj]

Typical.  Aljazeera.  "It wasn't socialism.  It was that Venezuela was not socialist ENOUGH!"  That explains why Cuba is such a great world power, and why Singapore is a third rate tinpot economy. /s

[driftdiver]

The right person just hasn't been in charge.

[Hoodat]

Is socialism to blame for Venezuela's never-ending crisis?

Does the Kennedy Compound have a full bar?

[XenaLee]

Is socialism to blame for Venezuela's never-ending crisis?
Though '21st-century socialism' is implicated in Venezuela's collapse, so too are many characteristics of capitalism.
by Asa Cusack    31 May 2018
https://www.aljazeera.com/indepth/opinion/socialism-blame-venezuelas-crisis-180530095418091.html

[...]

Inflation is spiralling out of control, oil production is plummeting, foreign assets have been seized, there are serious shortages of food and medicine, tens of thousands are fleeing the country, and the incumbent government of Nicolas Maduro has increasingly weakened the country's democratic instruments to cling to power.

The natural question in a country that boasts the world's largest proven oil reserves is, how did it come to this? Many have latched on to a simple answer: socialism. But is it really that simple?

[...]

First, it is important to realise that Chavez chose to call his transformative project "21st-century socialism", but Venezuela's economy remained market-based and private-sector dominated throughout his time in office.

Though the social economy and the public sector were heavily promoted - including through nationalisation - the private sector was expected to remain dominant, and it did. A centrally planned socialist economy like Cuba's was neither the aim nor the reality.

[...]

Not 'just' socialism.  A large part in their downfall was also corruption.... which is often confused with ineptness or mismanagement.  But then.... socialism (communism w/a smiley face) goes hand-in-hand with corruption....

always.

[Weird Tolkienish Figure]

Idiots.