by Dan Mitchell | Mar 23, 2023 | Big Government, Blogs, Economics, Socialism
In Part I of this series, I documented the dramatic decline in living standards ever since socialists took power in Venezuela. In Part II, I compared Venezuela’s decline to the other Latin American nations, particularly the success story of Chile....
by Dan Mitchell | Mar 13, 2023 | Blogs, Economics, Free Market, Socialism
Back in 2011, I shared a chart comparing economic growth in Chile, Argentina, and Venezuela between 1980 and 2008. My simple goal was to show that market-oriented nations enjoy very fast growth compared to nations with “mixed economies or socialist...
by Dan Mitchell | Mar 12, 2023 | Big Government, Blogs, Economics, Socialism
Socialism is an immoral system that has a horrible track record of misery and failure. One of the most tragic examples is Venezuela. It used to be the richest nation in Latin America. But per-capita GDP has collapsed...
by Dan Mitchell | Jan 17, 2023 | Blogs, Health Care
I’m routinely critical of the many ways that government intervention has created an expensive and inefficient health system in the United States. But there are countries where government causes even greater problems. So when I want to...
by Dan Mitchell | Nov 24, 2022 | Blogs, Economics, Socialism
I normally share this video from Reason every Thanksgiving. But this year I’m going to recycle instead a video from John Stossel. The moral of the story is that societies based on collectivism do not succeed. People don’t work...
