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JUST THE FACTS: Venezuela: A Lesson for Socialists in the West

One only needs to look at Venezuela to see how socialism has been such a crushing failure.

Socialism is a failed experiment. In every iteration, across the globe and throughout history, it ends the same way.

But this hasn’t stopped many on the Left from pushing for socialism in Canada. It’s honestly bizarre that we still take socialism seriously; even educated Canadians still advocate for it.

One only needs to look at Venezuela to see how socialism has been such a crushing failure.

Venezuela was considered rich in the early 1960s. Its produced more than 10 percent of the world’s crude and had a per capita GDP many times bigger than that of its neighbours. However, at the turn of the millennium, Venezuela became a socialist country and ever since it’s citizens have been plunged into poverty and food shortages.

Out of touch celebrities like Sean Penn and Michael Moore have naively praised Venezuela in the past. Today, thanks to its socialist policies, Venezuela is facing a refugee crisis and millions of citizens are fleeing the country.

Hugo Chavez came into power after a failed coup and rewrote the constitution and appointed his own supreme court. Soon after Chavez nationalized most of the privately-owned businesses in the country, including the oil industry, and confiscated millions of hectares of farmland.

After Hugo Chavez’s reign, his successor Nicolas Maduro took over power and doubled down on Chavez’s disastrous socialist policies.

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