Tuesday, March 18, 2014

World Events - Venezuela

So, how well does socialism work? Here is a quote from a citizen in Venezuela:

"The things that are the scarcest are actually what we need the most. Flour, cooking oil, butter, milk, diapers. I spent last week hunting for diapers everywhere. The situation is really tough for basic goods."

Centrally controlled economies eventually fail to provide even the most basic goods. The only system that works is free market capitalism. Is it perfect? No, but it is the only one that works. Venezuela is also experiencing high inflation. Some estimates put inflation at over 50%. So you can't find the products you need and prices keep going higher. This is a prescription for revolt.

What do you think?