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The fact that US and Venezuela both spend about 40% of GDP from a government level is very insightful and new information to me. I have a hard time calling the

The fact that US and Venezuela both spend about 40% of GDP from a government level is very insightful and new information to me. I have a hard time calling the US' spending efficient (mostly military) so I think it's more complex than that we're doing socialism 'well'. But the US hasn't fallen apart yet. If both countries are doing it so badly with such a large part of our revenue, why are they failing? Maybe it's less about waste and more about making sure you don't screw up specific critical industries? The situation with California's cheap water even as they're running out is quite a bit like Venezuela's power. Why are we not rocked by such things more often? I'll have to think about this.

Mikeb85 11y ago
My guess is that most of Venezuela's industries are non-existent, as they've focused on oil the last 50+ years. I know they import just about all their consumer goods and food. Venezuela's economy after the revolution wasn't really a great example of a 'planned' economy. More like: 1) Nationalize oil companies 2) Give free shit to all the people who they promised free shit to 3) Profit? There's doesn't seem to have been a real direction, no attempt at developing the economy, just Zimbabwe-style redistribution. At least in the case of the US, the 'waste' generally finds its way into the US economy (through the military industrial complex, the prison system, subsidies to farmers, etc..)