This Day In History: Socialist Hugo Chávez becomes victorious in the Venezuelan presidential elections on this day in 1999...a bad day for Venezuela. In 1950, Venezuela ranked among the top ten most prosperous nations in the world. In 1959, the Venezuelan GDP per capita was 10 percent higher than America’s. Venezuela has the largest oil reserves in the world and should be a very wealthy country. However, since Chavez (and Maduro) took power, the median monthly income is now $8. Roughly 90 percent of Venezuelans today live below the poverty line. Venezuelans have lost an average 24 pounds and have been reduced to eating pets and zoo animals. Socialism’s record has been pain, not gain, especially for the poor. Socialism has consistently produced mass starvation and it stunts growth. In most cases, socialism’s monopoly on economic control also encourages corruption by government officials, as we can see in Latin American and African.
See also Over 300 PDF/Acrobat Books on Socialism, Communism and Economics and The History & Mystery of Money & Economics-250 Books on DVDrom
Visit my Econ blog at http://fredericbastiat1850.blogspot.com/
For a list of all of my digital books on disk click here
Visit my Econ blog at http://fredericbastiat1850.blogspot.com/
For a list of all of my digital books on disk click here
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