Forbes: "Congratulations To Bolivarian Socialism - Venezuela Now Faces Imminent Famine."
Venezuela has been held up for years as a glorious example of what socialism could do for a country. And of course now we can still hold up Venezuela as a glorious example of what socialism can do for a country. Which is, if current reports are to be believed, manage to create actual famine in a middle income country. It’s really a quite extraordinary result for any economic policy at all, to be able to manage that.Quite the turn of events for a founding member of OPEC.
A while ago, I saw an online question (maybe it was "Ask Reddit") asking "What three books would you give to somebody who disagrees with you to change their mind?" One of my choices would be Joshua Muravchik's "Heaven on Earth: The Rise and Fall of Socialism." As Muravchik notes in various examples, even among "true believers" that want to see the socialist dream made into reality, there's no way to make it work. At the best, there is frustration and failure. At its worst, there is mass famine.
But, hey, let's all talk about Brexit. Wheee!