Venezuela was South America’s richest country! What happened?
Okay, so I had a very vague understanding of this issue until about 11 pm of the evening of this post. But then this tyrant named Nicolas Maduro went and nationalized all Venezuelan farms and did central planning for prices, wages, and currency production. This is currently causing a famine that so far has killed 35 people. Which is small, but I am going to carefully explain to you how that can be stopped from ballooning to something like 35 thousand or 35 million. After explaining to you what I know about the world around me in the context of Venezuela’s situation.
Attempting utopia and rejecting capitalism from any public policy field in particular has never worked.
Capitalism may be a flawed economic doctrine, as in it does leave it entirely up to consumers what markets can and cannot do including in terms of worker treatment. But it is the best we have as it is the only one that has trained consumers to truly be concerned with the quality of what they buy. It’s also the only one that’s trained consumers to actually be concerned with the conditions of workers, as well as the work ethics of workers.
Here in the Digital Age, this is obvious in the existence of tools like Yelp and Meta Critic and Rotten Tomatoes! People go to these places to be honest about their individual experiences at markets. Personally, I learned this lesson about economics from reading Game Informer reviews of video games during my teenage life. If I see that a game has been found to be unplayable or if it is found to have endless amounts of rude or trashy content that ESRB – the content maturity rating people for games – gave the game a free pass on, then I do not buy a copy of that game!
- My case for how world peace requires making every country capitalist.
Also, when a Yelp review indicates that a restaurant or a grocery store is poorly managed in any way, whether its badly treated workers, lazy work ethics, corrupt practices for upholding store policies, or whatever else; I boycott that place! No two people may have the exact same IQ, but easily any consumer is smart enough to know full well who to buy from and who to boycott out of existence when deciding which corporations decide which fates!
Intentions vs Outcomes
Anyone who knows how I feel about intentions vs outcomes will tell you I am gleefully and chirpily dismissive of even the best intentions if the outcomes are all atrocities.
So for example, socialists may want to stamp out corrupt behaviors by corporate executives, but their policies (tons of different taxes, spendings bigger than revenues, regulatory burden the weight of 1000 blue whales, putting politicians in charge of corporate standards) actually produce the outcomes of worsening corrupt behavior by private sectors execs and/or corrupting politicians themselves.
Meanwhile, capitalists tend to have varying intentions (because we are all individualistic Actual liberals), but what we all have in common is that our policies (only one kind of tax, revenues bigger than spendings, regulatory burden the weight of half a memory foam pillow, letting consumers boycott the corrupt corporates out of existence) are the policies that make the outcomes of truly reducing if not eliminating corporate corruption.
What needs to be done for Venezuela?
Well, Venezuela needs capitalism back, but it seems like Maduro is getting more and more power unchecked. So what I say we do for the plan is we work to unilaterally privatize Venezuelan farms. And also to unilaterally overturn Maduro’s price and wage and currency controls and put measures in place to make sure he cannot restore his power grabs. That way we can see him and his regime collapse without losing any American or other Western world lives. Thanks readers!