And, the word “socialism” is in the oft-used scare quotes, which make the word seem alleged or fictitious.
This corruption hasn’t just enriched the few. It has also impoverished the many. That’s because the government has tried to control the economy to the point of killing it — all, of course, in the name of “socialism.” Now let’s back up a minute. It really shouldn’t have been hard for Venezuela’s government to spend some petrodollars on the poor without destroying its economy. All it had to do was send people a check for their share of the country’s oil money. Even Alaska does that. And, to be fair, Venezuela was able to do so as well, as long as oil prices were in the triple digits. That’s how its government cut poverty almost 30 percent its first 12 years in power.
Photo by MARQUINAM