Worked out great while oil was over $100 a barrel.......not so great when it dropped under $50
Venezuela's problem was that their economy was not diversified
Can you explain how their people would have done better under capitalism?
How would capitalists have treated the Venezuelan workers once the price of oil dropped?
Can you explain how their people would have done better under capitalism?
A capitalist run oil industry would have done a better job ensuring the oil would keep flowing.
Short sighted socialist control meant handouts, instead of maintenance.
Works for a little while fails in the long run.
How would capitalists have treated the Venezuelan workers once the price of oil dropped?
Capitalism is always experimenting. Try something, if it works, if it's profitable, more will try it.
If it fails, try something else.
With socialism, you're left with killing the greedy kulaks, eh comrade?
I hear they'll be forcing their people into the fields soon.
Worked great in Cambodia, right?