Half the Venezuelan economy has disappeared

[palou]

Locknuts said:

hunter_alien said:

Now this is a tricky comment. One, Venezuella is not a prime example of working socialism, that would be a country like Norway. Second, there were plenty of destabilizing factors directed by certain... ahem... political entities, against that country. The fact that the US wants to create yet another South Maerican puppet state is not a secret.

It's an unsustainable system though. Those who pursue wealth will flee the country, leaving the unproductive behind. Then they too will be dependent on oil exports, leaving Norway vulnerable to the same issues Venezuela is facing. Norwegians have a much higher average IQ than those in Venezuela though, so the brain drain will take a lot longer to eventuate.

Of course Norway may reject massive wealth redistribution and save themselves, but it's never happened before. The closest thing I've seen is the election of Trump, but America was never that far gone.

Which would beg the question of the effects of high wealth distribution, if handled uniformly on a global scale...

 

For a modern context, Sweden would probably be a better example of functional social capitalism. Or Germany/Japan, for something intermediate.

Last edited by palou - on 25 January 2018