Welfare programs that were supposed to help the poor actually increased the cost of living.

Venezuela’s economy has collapsed. Though '21st-century socialism' is implicated in Venezuela's collapse, so too are many characteristics of capitalism.

The collapsed SAIME offices (Venezuela’s Administrative Service of Identification, Migration and Foreigners) have paved the way for a most foul and corrupt system deeply rooted within the organization itself that peaked in 2018. In this way, socialism run rampant—not cronyism, corruption, falling oil prices, or U.S. sanctions—caused the crisis in Venezuela.

Venezuela's Economic Collapse Is Linked to Its Socialist Policies - Foundation for Economic Education Venezuela's Economic Collapse Is Linked to Its Socialist Policies There's no dressing it up; socialism has wrecked Venezuela's economy. Tuesday, May 29, 2018 The truth is that Venezuela… Is it too simplistic to blame Venezuela’s collapse on socialism?
Venezuela’s economy has collapsed. By Elda Primera Published April 12, 2020 at 10:04pm Share on Facebook (123) Tweet Email Print.

Unfortunately, most people mistakenly believe Venezuela’s policies created a successful economy prior to the collapse in oil prices.

The nation of Venezuela is headed toward economic and social collapse, yet there is little international attention being paid to the ongoing crisis.

Is it too simplistic to blame Venezuela’s collapse on socialism?

Unfortunately, most people mistakenly believe Venezuela’s policies created a successful economy prior to the collapse in oil prices.

First, let’s get the concepts right. Austerity was to be the rule of the day as the government attempted to pay off Venezuela’s massive debt incurred when oil prices fell in the mid-1980s. First, let’s get the concepts right.
Venezuela Economy Continues Its Collapse Under Pressure of Socialism and COVID19 Pandemic. Venezuela’s Downfall Isn’t About Socialism — It’s About Oil Victims of the wave of state violence unleashed during the Caracazo protests run in the streets. Venezuela’s unfettered embrace of socialism now is ripping that nation apart, but the term has lost all ideological substance as it …

CARACAS – In this post-collapse socialist Venezuela, bureaucracy has become a monster worthy of a mythological tale and, much like everything else that has systematically collapsed over the past years, it has Why Has Venezuela’s Collapse Become An Overlooked Crisis? Venezuela’s Collapse Exposes the Fake Socialism Debated in U.S. Would American politicians even recognize true socialism as they laud or lambaste it? In the midst of the coronavirus pandemic Venezuela is suffering from the most acute fuel shortage in years. A foreign currency control that aimed to reduce inflation only increased it and allowed for massive corruption.