It’s Corruption, Not Socialism, That Brought Down Venezuela

NewImageSee, they didn’t do it right. Just like every other time socialism has failed. 

Never mind that corruption is a feature, not a bug.

These days it seems you can’t talk about socialism without being
required to talk also about Venezuela—largely because certain people on
the right bring up the failures of Venezuela every time the word “socialism” appears. Right-wing pundits claim incessantly that socialist policies are to blame for the terrible conditions that Venezuelans are now living through.

But this story is fundamentally false.

“It’s a cheap rhetorical tactic,” says James Galbraith, professor of economics at the University of Texas–Austin.

“No serious person makes this argument,” says Richard D. Wolff, professor emeritus in economics at the University of Massachusetts–Amherst.