Venezuela and the lessons not learnt

After years of advancing public policies that cause economic downswings, poverty, the government of Venezuela is now turning to privatizations in an attempt to escape the on-going economic crisis. This is according to the recent report by Bloomberg News.

Nicolas Maduro, who took power after Hugo Chavez’s death in March 2013, has obviously come to the realization that his socialist ideas aren’t advancing people’s development in Venezuela. That they are destroying and corroding Venezuelan society.

You ask yourself what are those socialist policies that destroyed Venezuela? Well, it’s excessive government spending and subsidies, it’s minimum wage laws, it’s nationalizations, it’s price controls, and perhaps more. That is how Venezuela was destroyed by power-hungry, economically-illiterate politicians…..

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