Venezuela economic challenges today; Is Venezuelan socialism to blame partly? Are Scandinavian social democracy/welfare state success stories true?
Last updated on 18th Feb. 2018 I came across this article a day or two ago, Traveling Through Venezuela, a Country Teetering on the Brink, http://www.nytimes.com/2016/02/09/world/americas/a-reporter-travels-through-venezuela-a-country-teetering-on-the-brink.html , Feb. 9th 2016. I have given below some comments I made on a post that I wrote on the Facebook timeline of a person who used to live in Venezuela earlier but now has moved to USA. [Hope going through just my comments in the comment exchange is not that unpleasant. I think it does convey my limited view of the matter and that's why I decided to put it up as a blog post.] My God! Are things that bad in Venezuela today! Hmm. Part of the reason surely would be the collapse in the price of crude oil as mentioned in the article (main source of revenue for Venezuela, I believe). But there would be other reasons too. Perhaps your view is that Venezuela style socialism has to take part of the blame? ... Sorry to know about ...