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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 (ru
by 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 agoUm. 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 agoNot to mention record-setting levels of corruption. No system works if people are actively looting it