Socialism is a failed ideology as demonstrated by Venezuela

NY Times:

Workers Flee and Thieves Loot Venezuela’s Oil Giant


Our correspondent visited Venezuela to see whether the country could pull itself out of its economic free fall. The outlook was not encouraging.
If socialism actually created a workers paradise there would be no need for workers to flee or for thieves to loot. 

Socialism does not work for various reasons but one of the more obvious is that decisions made by bureaucrats are not as rational as those made by markets. 

Try as they may, socialists cannot repeal the law of supply and demand and their attempts to do so lead to inflation and shortages and a downward spiral.  The ignorance is so deep in Venezuela that there appears to be no bottom for the governmetn to plum.

As a matter of education, all those professors at US colleges who are pushing the virtues of socialism should be required to spend a semester in Venezuela working for the government and dealing with the results of its ineptitude.

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