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I lived through the same extreme inflation in Yugoslavia in the 80s. It was very bad. Good luck to people in Venezuela :( Yet, I cannot ignore the fact that bot
by drno123 5y ago
I lived through the same extreme inflation in Yugoslavia in the 80s. It was very bad. Good luck to people in Venezuela :( Yet, I cannot ignore the fact that both Yugoslavia and Venezuela, otherwise very different countries, had the same political/economic system that lead to the inflation.
- rapind 5y agoSanctions?
- helge9210 5y agoSanctions are imposed to cut access to the investment money and to markets to sell produced goods. No need to impose sanctions if major market and investor (USSR) just collapsed.
- rapind 5y agoThis post is full of pitch forks aimed at the socialism bogeyman. It’s a bit more nuanced. I’m not going to defend that prick Maduro, however oil prices and sanctions haven’t helped their situation.
- desine 5y agoTurns out there's a cost to guaranteeing a certain quality of life, without requiring the productivity that was previously needed to secure it. Capitalism has its faults, but for the day to day management of a population, rewarding those who produce goods is a pretty logical baseline for economics
- rapind 5y agoI’m not arguing socialism or capitalism is great. I’m saying their crisis isn’t socialism in a vacuum, and lack of nuanced discussion in favour of capitalism vs socialism is getting kind of old. It’s like thinking a program you wrote only has one bug.
- desine 5y agoYour highest level reply did not imply you were willing to consider socialism as a factor. Socialism is a very large factor in this. Not in principle, but in practice. Is it possible for a fair, balanced, stable form of socialism to be designed? Possibly, I don't know. Can a group of greedy, selfish, arrogant Great Apes manage it? Absolutely not.
- deleted 5y ago[deleted]
- imtringued 5y agoThe sanctions are the biggest factor and it's often external influences that force politicians to enact populistic policies as a massive bandaid that are then interpreted as socialism. The bandaid isn't the problem, it's the wound.
- drno123 5y agoYugoslavia did not have sanctions in the 80s, that was before the war. You are thinking about the sanctions that were imposed to the remainder of Yugoslavia (Serbia, Montenegro and Kosovo) in the mid and late 90s.
- rapind 5y agoI assumed 80s was a typo and you were referring to https://en.m.wikipedia.org/wiki/Hyperinflation_in_the_Federal_Republic_of_Yugoslavia https://en.m.wikipedia.org/wiki/Hyperinflation_in_the_Federa...
- drno123 5y agoThat inflation was even worse - but I did not experience it. Of course, sanctions, war, etc. greatly contributed to the hyperinflation in the 90s.