Venezuela Demonstrates Why Socialism Always Fails

Venezuela had the greatest oil reserves of any country. The country was ruled for 14 years with the iron fist of Hugo Chavez. Then anti-capitalism wiped out the country and sent it into hyperinflation. “Socialism fails when you run out of other people’s money,” as Margaret Thatcher said. It is human nature for people to work less if the state is robbing them. What is the point of producing if the state just takes it away? Every socialist system has sent capital fleeing and caused investment to decline, yet politicians never see this. They just assume everyone will continue to work and pay whatever they demand in taxes. Venezuela is in a meltdown and people are starving. Continue reading