3 ms·

It's better than the alternatives, such as this alternative: https://ca.news.yahoo.com/venezuelans-scramble-survive-merchants-demand-dollars-130623023.html htt

• tabtab 9y ago
  The Venezuelan mistake was putting all their economic eggs in the oil basket. That's not a capitalism-vs-socialism issue since capitalists have done similar (rust belt). Further, there are various mixes of socialism and capitalism that can be implemented: it doesn't have to be all one or the other.
  • tomohawk 9y ago
    Um. No. The mistake was putting a dictator in charge, who then nationalized everything and tried to create a centrally directed economy.
  • geezerjay 9y ago
    > The Venezuelan mistake was putting all their economic eggs in the oil basket. Tell that to all the small businesses that were nationalized just because the communist regime felt like it, and then forced all small business owners into poverty and hunger.
  • djinnandtonic 9y ago
    Not to mention record-setting levels of corruption. No system works if people are actively looting it
• jstewartmobile 9y ago
  Developing countries are poor examples/counterexamples for any kind of political/economic arrangement. They are so vulnerable to external interference (CIA, KGB, Mossad, etc.).