Wednesday, June 26, 2019

I do not think that word means what you think it means.

According to Aquiles Hopkins, president of the Confederation of Associations of Agricultural Producers of Venezuela, national production currently covers only 15%–20% of the country’s consumption needs. “Socialism is what you have in Norway, in Finland,” said Hopkins during an interview in his office in Caracas. “This is an autocracy.”
No, socialism is not what you have in Norway and Finland. What you have in Norway and Finland is largely capitalism with generous social safety nets and public services supported by very high taxes on extremely productive economies (and North Sea oil revenues in the case of the former.)

This can work okay in a culture with strong social taboos against both ostentation and freeloading. How well it can continue to work with large influxes of people who don't have those same taboos remains to be seen.