Venezuela: the example used to denigrate socialism by capitalists who understand nothing of it or the history of the country they’re discussing
I mean, show me another oil-dependent state that has suffered anywhere near as much as Venezuela. Russia? No. Nigeria? No. Iran? No (despite massive sanctions!!). Nowhere. Only Venezuela. Your story about why Venezuela has collapsed is not a good one. It wasn't oil.
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Again a big issue is Chavez not taking the opportunity to diversify the economy
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But those other oil-dependent countries also didn't diversify their economies, and they all took only a minor hit from the oil price crash. It wasn't oil, Barry. It was "Bolivarian socialism".
End of conversation
New conversation -
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I keep driving home how dependent Venezuela’s economy is on oil revenue. Would you mind looking into that? I don’t know how it compares to other countries
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