Venezuela

[Balti]

another socialist paradise

 

[The perfect fumble]

another socialist paradise

If only it were a capitalist paradise like Nigeria.

 

[I'm With Stupid]

Natural resources in a country with good institutions benefit the economy. Natural resources in a badly-run, corrupt country actually make things worse. We're seeing exactly that in Venezuela, Nigeria, Angola, etc. The system of government in corrupt countries like this doesn't really make much difference, because they're typically just lip service to whatever political ideology they choose anyway.

 

[The perfect fumble]

Natural resources in a country with good institutions benefit the economy. Natural resources in a badly-run, corrupt country actually make things worse. We're seeing exactly that in Venezuela, Nigeria, Angola, etc. The system of government in corrupt countries like this doesn't really make much difference, because they're typically just lip service to whatever political ideology they choose anyway.

Yep, corruption is the number one enemy of progress in any system.

 

[cucumberman]

I hate them. I hate the horrible droning noise they made in the last World Cup.

 

[Armaan]

I'm sure I read recently that a burger there now costs an eye watering $175... Shits really bad there feel sorry for the people.

 

[steviemc]

Yep, you can have all the potential resources in the world, but it still requires infrastructure, investment and cash flow. Add to this a corrupt government that has little understanding about maximising those potentials, and it's hardly surprising that things are going tits up.

 

[idahoblues]

 

[EalingBlue2]

Yeah, I've no evidence to suggest it, but I'm sure the socialists are screwing up Nigeria as well and the Democratic Republic allof the Congo and well everywhere really.

The biggest reason under developed countries stay that way is corruption. There can be no prosperity with endemic corruption and you find it in poor countries that purport to be right wing, left wing and all points in between.

Many of these governments pretending to be socialist aren't remotely so, just populist cult of personality regimes of right and left based on corruption and division.

 

[The perfect fumble]

Many of these governments pretending to be socialist aren't remotely so, just populist cult of personality regimes of right and left based on corruption and division.

Yes, their political label is meaningless, they are effectively gangsters.