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Wednesday, 29 August 2018 15:15

As seen in Venezuela, socialism creates economic misery for all

Written by  Staff Writer
To the editor,
Six years ago the left praised socialist Venezuela as a model country.
New York Times contributor Mark Weisbrot praised socialist Venezuela in 2012 saying, “Poverty has been cut by half, college enrollment has more than doubled, millions of people have access to health care for the first time and the number of people eligible for public pensions has quadrupled.”

Just six years later Venezuela’s inflation is predicted to hit 1 million percent by the end of the year, according to the International Monetary Fund.

The Daily Signal reported on Venezuela’s staggering collapse. The economy has halved since 2013 and unemployment has now reached 30 percent. Basic items like baby formula and toilet paper can’t be found on store shelves. The policy of nationalization to give back to the people has left those very people destitute.

No country has fallen farther and faster than Venezuela. Economic freedom has evaporated, and Venezuela is now the second-most economically repressed country in the world.

The American left continues to praise socialism. Millennials in particular are embracing it.

Socialist policies undermine individual responsibility and the rule of law and create a destructive race to the bottom to prove that you are the one most in need.

Proponents of socialism claim to want to lift up the poor, but all socialism does is drag everyone down, creating economic misery for rich and poor alike.

Socialism has proven to be ideologically bankrupt, having failed to produce anything close to a free-market system.

Amy Holterman
Milton

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