Decentralization beats centralization. People beat the state. (Or at least survive despite the state.)
Please also note that the one country that is seriously banging on first world status below has the fewest government employees as a percentage of workers. This is not a coincidence.
First The Washington Post sounds halfway rational on the minimum wage issue. And now this from the LA Times?
Remember folks, and this is one of the few economic/political axioms out there, socialism always fails because it is based on falsehood fundamentally. Particularly false PRICES. And the degree to which socialism fails (eventually) correlates directly to the amount of socialism instituted. The bigger the socialism, the bigger the ultimate failure.
I suppose the non-loyalists can just use Venezuela’s national currency.
Hit the road Nicolas.
Nothing says “sound leader” more than conducting a press conference in a track suit. Just ask Al Sharpton.
Old data but still interesting.
Hey, it wouldn’t be the first time Wall Street has done business with people like this, and I put nothing past Goldman Sachs.
The below appears to be yet another reason Goldman should have been left to die in 2008.
This about sums it up. Viva Libertad! Viva Venezuela!
2 very very rich socialists. (Actually 3. That’s Maduro on the right.)
Venezuela should be a rich – or at least a relatively rich country. But 2 decades of socialism have eroded the economy. Now, as the regime clings to power it’s running over protesters. We shouldn’t be surprised but we should be aware.
The people will most likely bring Maduro and his Chavista allies down. But there may be be blood, more blood, on the way to this result.