You Might Be A Partisan Hack If…
Caitlin Johnstone
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I’ve said it before, but you really should study some basic economics if you’re going to opine on that subject. You are living in fantasy land if think (a) Socialism can ever work and (b) the US destroyed Venezuela. Start w some basic study of critiques of socialism like the “Calculation” problem (I.e. the lack of a legitimate pricing system where bureaucrats make all production decisions by completely guessing the mix of scarce resources that should used to decide the mix of products to be created — with no input from the people who will use said products). One does not need to use Venezuela as evidence, when it can easily rely on USSR, North Korea, Cuba etc. In Poland during USSR reign, people practically starved and could not find proper clothes most of the time. Second, read a basic book like Henry Hazlitt’s Economics in One Lesson or anything by Frederic Bastiat — Candlemaker’s Petition, The Law — or even a summary of the broken window fallacy.

Venezuela can only blame itself and its leaders for implementing nonsensical price controls on everything. Shelves are empty bc suppliers will not sell products at a fixed price below their cost in making and delivering the product to the store. Shaking my head, once again, at another foolish socialist saying “this time, it will be different …” Even the Econ professors at prestigious and far-left schools have formed a general consensus that it does not work. Try applying for a spot in their Econ Depts as a Socialist and see if you get the job … not happening.

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