I haven't downvotes your answer, but you ask why people voted you down… so here goes. It is because you try to pin everything on Socialism, when the real probl

I haven't downvotes your answer, but you ask why people voted you down… so here goes. It is because you try to pin everything on Socialism, when the real problem is actually Cronyism and Despotism. I.e. it was their political system, not their financial system, that did them in. There are plenty of countries with various degrees of socialism that are not bankrupt. Australia, for example, had a socialist, very left leaning, government that gave many of the same things out. But these countries generally have well established democratic institutions. And it is these institutions that allow a country to change direction if it makes a mistake. Venezuela on the other hand does not have a strong democratic institution, and so has no real way to escape the mess that it created. Its leaders are invested in the solution that they chose, and dug ever deeper in to show how right they were.