Video: What Caused Venezuela’s Tragic Collapse? Socialism.

Venezuela has the world’s largest proven oil reserves, and it was once Latin America’s richest country. Today, most grocery store shelves are empty, and Venezuelans are so hungry that they’re killing zoo animals for sustenance. Toilet paper, diapers, and toothpaste are luxury goods. Venezuelan hospitals have disintegrated, children are dying because they can’t get antibiotics, and the infant mortality rate is higher than Syria. The capital city of Caracas is the murder capital of the world, and just 12 percent of citizens feel safe walking alone at night, which is the lowest figure reported in the world.

The government blames slumping oil prices for the desperate situation. The real cause is the socialist economy.

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The real lesson of Venezuela’s tragic collapse is that real socialism always leads to economic breakdown and political repression. Those of us in wealthier, freer countries need to keep Venezuela in mind as we confront calls for more regulation and government control of all aspects of our own lives.

Produced by Todd Krainin. Written by Nick Gillespie. Camera by Jim Epstein.

H/T Reason TV

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Author: Torcer

Differential equations teaches us that one can use the initial conditions of the present to extrapolate events in the near term balanced with the knowledge of the past. The interaction of technological advances and the march of history is fascinating. History can inform those willing to listen as to what will happen in the future because the laws of human natural are as immutable as the elegant equations of Newtonian physics.

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