To me the thing that most obviously caused its collapse, regardless of what your political opinion is, was it’s unlimited money printing

Ye defo

*its

It wasn’t the only thing tho

Other policies played a huge part

The strong intervention

Like strong regulatory barriers, investment and trade barriers

Price controls

Labor laws

Still the money printing was sort of what caused things to collapse so quickly

Venezuelan “socialism” without free money would definitely have lasted longer

Not that it would have been good or pleasant

But it wouldn’t have imploded

At least not so quickly

I think it failed in the 80s

Just got progressively worse since

@sɪᴅɪsɴᴏᴛʜᴇʀᴇ It was because they did not invest that oil money, they spent it on social programs. You don't have to a capitalist country to invest money.

Exactly, this is purely state inefficiency

Central planning failing

The money would have been better used by the private sector

They can still invest the money though

Without not being socialist

They aren’t socialist

The country itself

But socialism is what has brought them to the state they are now

And has been pulling them down since the 80s/70s

So only the government is socialist?

Nationalisation of oil starting

No I mean the government is using socialist policies yes

The economy isn’t I guess

I mean, many countries that aren't socialist have nationalised their oil

Yeah I know but problems started from there for Venezuela

It started regulating tons more

Thanos doesnt have an asshole change my mind

he can just destroy his poo in his colon

https://tenor.com/view/fakenews-gif-9747781

CNN:

Bad meme

https://www.youtube.com/watch?v=Shud2jOXHH0