Quote (Malopox @ Jul 30 2024 04:10pm)
Venezuela has the biggest oil reserves in the world so the game is worth playing.
The Prize by Daniel Yergin has great historical account of Venezuelan oil discovery, the setting in of “Dutch disease” and subsequent series of economical mistakes that all led to rise of unsustainable socialism which led to where we are now.
I would watch closely efforts of Milei in Argentina to reform socialism and if Milei succeeds, Venezuelans should copy it.
Socialism is never going to work. People who want power are always the corrupt ones seeking personal gain. Socialism allows them to exploit public funds or anything related to taxes paid by the public. At some point, you have so much corruption, inefficiency and nepotism/clientelism that the state collapses and turns into a dictatorship to keep the ones in power safe.
The idea of communism isn't bad per say, and we, homo sapiens, the ones who made us into the people we are, were of collective mindset doing everything possible not only for themselves but for their own tribe/village. At city level, socialism/ communism fails hard, so true communism would be the abolishment of countries worldwide in favour of small communities. That's never going to happen. The elites would lose their "slaves".
Quote (Malopox @ Jul 30 2024 04:10pm)
Venezuela has the biggest oil reserves in the world so the game is worth playing.
The Prize by Daniel Yergin has great historical account of Venezuelan oil discovery, the setting in of “Dutch disease” and subsequent series of economical mistakes that all led to rise of unsustainable socialism which led to where we are now.
I would watch closely efforts of Milei in Argentina to reform socialism and if Milei succeeds, Venezuelans should copy it.
Sad state of affairs, my friend. I'm afraid it's going to become much worse before the situation will stabilize again.
This post was edited by babun1024 on Jul 30 2024 10:27am