Later today, Nicolás Maduro will be sworn in for a new second six-year term as president of Venezuela. He has a claim to be the worst president of any country not at war. Under his rule, Venezuela’s GDP has dropped by nearly half, violence has soared, and health care has all but collapsed. About 3,000,000 people, a staggering 10% of the population, has emigrated since 2014.
Once again, we witness how a nation falls into poverty and misery by socialism. I realise that socialist ideas appeal to many people, but the hard truth is that it never works in reality. If you want socialism, you’d better implement it on a small-scale basis in a free market economy. Create small companies owned by their employees and settle with that. As soon as the same model is transferred to whole nations and governments are allowed to act on behalf of workers, authoritarianism arrises and no one but the men at the very top has any say in what happens. The top-down socialism makes workers poor and dependent. It’s feudalism.