Think it can't happen here? I am just surprised I heard this on
National Public Radio. NYT's Nicholas Casey as a guest on
Fresh Air talks about the collapse in Venezuela. Chavez's legacy is manifesting itself now. Venezuela's current problems are due to run away Democratic socialism and popular social programs, till the economy finally collapsed. Venezuela was not poor and was blessed with oil, but in the end it was all unsustainable.
It all depends on what you mean by "doesn't work" and who it does and doesn't work for. If you are referring to bringing economic freedom and opportunities for prosperity to the most number of people, you are right: it is a miserable failure. But if you mean brings power and wealth to the corrupt rulers and their cronies, well it works just fine, thank you very much.
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