These days, the American dream is more apt to be realized in South America, in places such as Ecuador, Venezuela and Argentina, where incomes are actually more equal today than they are in the land of Horatio Alger. Who’s the banana republic now?
It really did not age well, because the banana republic is exactly where everyone knew it would be, especially in Venezuela.
This is the person so many on the left are counting on to usher us into a new age of prosperity and free health care for everyone.
As Helen Raleigh wrote, if we decide to follow this disastrous path, we better get used to eating rabbit, now.
When socialism runs out of money and has no more free stuff to give, it wreaks havoc on a country’s economy and its people. Just ask Venezuela.
Once upon a time, Venezuela was the richest country in Latin America. Its wealth wasn’t simply the result of an abundant supply of natural resources such as oil; Venezuelans in 1950s enjoyed a great deal of economic and political freedom. There was universal suffrage, protection of private property rights, and freedom of the press. As a matter of fact, “The Index of Economic Freedom for Venezuela—on a scale from 1 to 5, where 1 is the freest—was 1.5 in 1950 and 1.6 in 1955.” In this environment, Venezuela’s private sectors flourished. Read more…
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