An absolutely stunning photo. The people behind the barricades are, of course, the people who put Chavez and now Maduro into power. I wonder what they now know that they didn’t know then. If you look to the government to give you things you didn’t earn for yourself, this is the very plausible place you will end up. I doubt that many of those now on the streets have learned a thing, and I have not come across an article anywhere that truly explains why the Venezuelan economy has fallen apart.
Picked up at Instapundit.
UPDATE: Here is perhaps an article that may have the explanation: What Caused Venezuela’s Collapse Is No Mystery — Except To Economically Illiterate Journalists. So let us see what answer they come up with. This is where they start:
The cause is simple. Socialism. End it and you will end the misery.
I suppose that’s right, but what is this thing referred to as “socialism”. What are its characteristics and what can be done to avoid it? This, I’m afraid, we don’t entirely find out. The rest of the article describes how mainstream journalists evade the issue, with examples from The New York Times, The LA Times and USA Today. They attribute the collapse to falling oil prices, corrupt business leaders and even the weather which brought on a drought. And, of course, these weren’t the causes of the drastic failure of the Venezuelan economy, but after all is said and done, we end where the story began.
It is their unwillingness to admit that socialism can’t work that drives so many mainstream journalists to look for something, anything, else to blame when socialist economies invariable fail.
Socialism is merely a word that describes lots of economic systems, many of which have been very successful. What’s missing is any discussion of what in particular they have been doing wrong. It is this that seems to leave out that specifics of what needs to be avoided and what ought to be done in its place.