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Tuesday, March 26, 2019

Venezuela Is Socialism: New at Reason

By John Stossel - March 26, 2019 at 09:00AM

As Venezuela collapses, many people say, "don't blame socialism."

"Blaming socialism for Venezuela's riches to rags story is grossly misleading," an Al Jazeera reporter claims.

John Oliver claims: "If you follow conservative media at all you might have seen it frequently painted as the inevitable dire consequences of a socialist government." Oliver blames it instead on "epic mismanagement."

But John Stossel says: "Mismanagement is what happens under socialist governments. It always happens, because no group of central planners is wise enough to manage an entire economy. Even if they have good intentions, the socialists eventually run out of other people's money."

In Venezuela, when their socialist government ran out of money, they just printed more. When business owners raised prices to keep up with inflation, the government often took away their businesses.

Yet celebrities praised Hugo Chavez, who started Venezuela's socialism.

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The views expressed in this video are solely those of John Stossel; his independent production company, Stossel Productions; and the people he interviews. The claims and opinions set forth in the video and accompanying text are not necessarily those of Reason.

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