Is socialism to blame for Venezuela as it is, right now?

If oil socialism is to blame, then the same thing should happen in many welfare state based on oil countries like UAE, Saudi Arabia, Kuwait or Qatar should undergo the same effect during 2014 oil glut. While there was some effect, the effect wasn't as severe as Venezuela. read more

If oil socialism is to blame, then the same thing should happen in many welfare state based on oil countries like UAE, Saudi Arabia, Kuwait or Qatar should undergo the same effect during 2014 oil glut. read more

Former Central Bank economist Jose Guerra, now a national deputy and the opposition's main spokesperson on economic policy, told Televen news recently that “21st century socialism has ruined the Venezuelan people”. Notably, this anti-socialist narrative ignores the fact that Venezuela's economy continues to be more than 70% privately owned. read more