son of witless

Two countries in South America, Peru and Venezuela. One country is doing relatively well, the other is a failed state. Why? One country Venezuela embraced Socialism. The other country decided on Capitalism.

http://www.wsj.com/articles/the-capitalist-cure-for-terrorism-1412973796

JW

Socialism has never worked anywhere to the benefit of the people and the country. The reason there are still socialists is that they believe all the others did it wrong.

EconomistDon

Venezuela is in miserable shape. When I was a boy in the 1950s, Venezuela was an economic powerhouse. They have very much the same resources as the US, vast farm land and great growing climate, along with excellent natural resources. They were the powerhouse of the southern hemisphere. That was before socialism in their country. Since the 1960s, they have sunken into a decades long economic depression. And there is no hope of escape as long as there is no reward for working hard. Nobody tries, and the government is a total failure at trying to run everything. Here is a sad story about the empty shelves and desperate people. http://www.nytimes.com/2016/06/20/world/americas/venezuelans-ransack-stores-as-hunger-stalks-crumbling-nation.html

JW

A sad tale indeed.

Steve700

It's not just that the Christian moral framework that is the foundation of a country that goes with it.

Steve700