Of course external shocks are part of the mix.
Ed Dolan
11

I do agree with you that modern Russia has developed some very effective tactics to immunize it self against US unconventional war attacks. Venezuela has not been anywhere near as effective at protecting it itself from these threats. An exploration of the many interrelated components of defending against full spectrum unconventional war will very quickly become a massively complex conceptual exercise. It is one which I would be interested in engaging in however that would best be left for another time.

The key point I wanted to raise was to contextualise Venezuela’s economy. Venezuela is a relatively weak nation that is fairly isolated. It is under massive levels of economic and social pressure from a full spectrum unconventional war conducted by the global super power. Given this context it is incredibly inaccurate for anyone to judge the efficiency of socialism based off of this example.