As Venezuela descends into a nightmare of starvation and violence, the long-standing debate over the feasibility of socialism takes on new relevance. Years of explicitly socialist policies from the Chavez and Maduro regimes have taken their toll, as nationalization and a variety of other attempts to abolish or subvert market processes have destroyed what was … Continue reading Venezuela’s nightmare is where all redistributionist economies lead
Years have passed since the fall of the Berlin Wall. This watershed moment in history was highlighted by images of countless East German citizens joyously celebrating as the infamous Berlin Wall was knocked down, thus marking the beginning of the unification of East and West Germany and the eventual fall of the Soviet Union. On … Continue reading Closed borders. No free trade deals. Welcome to socialist Venezuela.
In his classic 1841 book on financial bubbles, Extraordinary Popular Delusions and the Madness of Crowds, Charles Mackay observed, “Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.” Mackay covered religious and political delusions, … Continue reading Venezuela’s Road to Literal Serfdom
I wrote last year that Venezuela was entering the “fourth circle of statist hell.” How else, after all, can you describe a government that is so venal and incompetent that it resorts to confiscating toys in an effort to strengthen its hold on power? I also wrote last year that Atlas was “shrugging” in Venezuela. … Continue reading Venezuela’s Socialist Hellscape, Captured in 28 Horrifying Headlines