What are the economic lessons we can learn from the collapse of Venezuela?

Answers

rick29148

socialism, like communism, DOESN'T WORK !!!

Godless Gazoo

Socialism doesn't work. It doesn't work even when you have the oil to pay for it.

EdWinter

The principal lesson is that former bus drivers should NOT be put in charge of an economy any more than failed community organizers should be. Doh.

Warren T

LEFT BELIEVES SOCIALISM IS GREAT

electricpole

Don't spend what you don't have in your hand. Or do a better job at predicting your future income conservatively.

Llyod Christmas

Socialism fails every time.

Anonymous

Don't spend your vacation money on a trip to Venezuela

blubberbutt

nothing our founding fathers didn't already know. “When the people find that they can vote themselves money, that will herald the end of the republic.” Benjamin Franklin

Starrysky

If you must have a dictator, make sure he has the good of the nation as his intentions.

darrin b

Greed is bad.

Zhu

Don't let the US take over your finances and economy.

James

Don’t prop up your economy with oil.

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