Just in case any have any doubts about how successful modern day socialism is or will be the case of Venezuela is instructive. The Bolivarian socialists decided to stick it to the man, overthrow capitalism and the tyranny of the market economy. At which point up to 5 million of the population have fled.
Do recall this is the system that was praised by Ken Livingstone, Jeremy Corbyn, Owen Jones and all points lefty:
More than 5m set to flee Venezuela by end of this year
OK, that’s a prediction:
The exodus has accelerated dramatically over the past three years as shortages of food, water and fuel grip Venezuela, a once wealthy oil-exporting nation which has been reduced to destitution by economic mismanagement under the socialist regime of Nicolás Maduro. Venezuelans filed more asylum claims last year than citizens of any other country including Syria and more than 10 per cent of the population has already left, according to a report from the UN refugee agency published earlier.
3 million already gone is some 10% of the population. 5 million, when it happens, will be 16%. That’s like 11 million fleeing Britain in the wake of Grandpa Death taking over.
There is a useful point to note here. That difference between expressed preferences and revealed that economists so insist upon. Many do indeed say they’d like more socialism. The modern day Labour Party is built upon that idea. And yet every time anyone institutes actually existing socialism the revealed preference is that people flee it, en masse. As with East Germany – the Berlin Wall’s guns pointed inwards, at the people trying to leave, not the capitalist masses trying to enter to glory in the joys of an egalitarian society.
Let’s face it, the socialist dream simply doesn’t work.