What Makes Venezuela Different

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Mises: What Makes Venezuela Different 6 COMMENTS

10 HOURS AGO Ryan McMaken

 

Unlike other leftist South American regimes, the Venezuela regime has intentionally crushed even the middle and working classes.

 

The economic disaster in Venezuela has prompted many to take a look at the country and attempt to understand what it is that has made things so bad in Venezuela.

It's not enough to say "socialism." After all, the political leadership in Ecuador and Bolivia right now are avowedly socialist, at least in rhetoric. Argentina has long been socialist in practice, but not even Argentina's repeated defaults and other messes brought the country anything like what is going on in Venezuela. Leftist Brazil remains something of an open question at this point.

 

So what is it about Venezuela that has led the country to the brink of starvation while Bolivia remains relatively stable and without famine? After all, the Bolivian president, Evo Morales, a self-described disciple of Marx, gave Pope Francis a crucifix shaped like a hammer and sickle during a recent visit by the pontiff.