Venezuela

[CapnAwesome]

Chavez really did a number on that country. He promised people free everything, thought that somehow a corrupt state could provide everything just by virtue of being a state. Politically isolated himself from his largest trading partner. Reality is a bitch.

If you look at what happened there compared to the economic turnaround of neighborhood Columbia, which had a moderate right government turning the Chavez years, the comparision is obvious. These things don't happen in a vaccum. Chavez tried to model his government on failed states and we shouldn't be shocked when it fails.

[KUSA]

He promised people free everything

What's wrong with that?

[Regina]

From what I've read (might be horrifically wrong) it looked like he had some good intentions. I can't really argue with a lot of socialist principles, I agree with a lot of them. But everything was just awfully thought out and not implemented properly. Too much corruption and overspending, carelessness.

[CapnAwesome]

He promised people free everything

What's wrong with that?

He simply didn't have the ecnomy to deliver on his promises and his policies weakened the economy further. I spent 6 months traveling in South America with someone who grew up in Venezuela who moved a few years after Chavez. Sure, they had 'free' hospitals there, but the care they provided was crap and nothing they could do was going to make them better. Anyone with the money went to private hospitals. It's not like by virtue of being a state you can create infinite resources. I can promise you free everything too. Why can't I just magically give you everything you want? The same applies to a state. I can get together with a bunch of other people and we can all promise you free everything. It doesn't make a difference if collectively people still don't have jack sit. If you don't have the resources to back it up, it's pointless.

That's the big difference between South American socialism and a country like Sweden. Sweden has free market trade policies, a strong economy and low corruption, so they can actually deliver on what they say. Venezuela does not. If people didn't learn that lesson in the 20th century, they learned nothing.

[abaris]

Anyone considered cheap oil as one of the major reasons? I mean that's the only real asset the country has.

[account_inactive]

Anyone considered cheap oil as one of the major reasons? I mean that's the only real asset the country has.

Yes, everyone knows that's one of the reasons.

[CapnAwesome]

Anyone considered cheap oil as one of the major reasons? I mean that's the only real asset the country has.

Of course. The real question is why were they reduced to being a mono-resource economy?

[vorlon13]

Another country got the lucrative cocaine contract with the US

[Minimalist]

Chavez really did a number on that country. He promised people free everything, thought that somehow a corrupt state could provide everything just by virtue of being a state. Politically isolated himself from his largest trading partner. Reality is a bitch.

If you look at what happened there compared to the economic turnaround of neighborhood Columbia, which had a moderate right government turning the Chavez years, the comparision is obvious. These things don't happen in a vaccum. Chavez tried to model his government on failed states and we shouldn't be shocked when it fails.

There aren't too many oil-producing countries who are doing all too well at the moment.

[vorlon13]

Venezuela has a really cool cable stayed bridge, love the looks of that one, scale, setting, just so much right about this one.