In the past couple of weeks, the New York Times has had two big articles about Venezuela, describing the horrific conditions that now exist there, and analyzing what went wrong. On May 14, it was “How Venezuela Stumbled to the Brink of Collapse”; and on May 17 it was “Venezuela’s Collapse Is the Worst Outside of War in Decades, Economists Say.”
It will not surprise you that the word “socialism” does not appear in either article. But the stupidity here goes far beyond just not mentioning the subject of “socialism.” The affirmative effort in these articles is to somehow shift the blame for Venezuela’s economic collapse to something other than socialism, whether it be “poor governance,” corruption, or general incompetence. The May 17 piece does have a reference to “misguided policies,” but they never say what those “misguided policies” may be. Widespread nationalizations of industry? Massive public housing schemes? Heavily subsidized food and household products? “Free” healthcare? None of these are mentioned.
But of course they do mention — multiple times — the Trump administration’s sanctions, just imposed in the past couple of months, as if those have something meaningful to do with a 60-80% collapse of GDP that has taken place over a decade or more.
From a summary in the May 17 piece: . . .Read More