Otto Reich: Socialism Cripples Venezuela

Tuesday, 12 Feb 2013 12:42 PM

By Dan Weil

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The socialist policies of Venezuelan President Hugo Chavez — and Vice President Nicolas Maduro, who is acting in place of the seriously sick strongman — are ruining the country, says Otto Reich, former U.S. ambassador to the rogue nation.
 
Food shortages abound, and the government has devalued the bolivar. “None of this should be surprising,” Reich writes in The Wall Street Journal. “Shortages are inevitable when socialist governments interfere with free markets through price and other controls. Then government officials blame the growers, manufacturers, distributors or retailers that the government itself is bankrupting.”
 
To see what lies ahead for Venezuela, just look at what has happened in other Marxist countries, says Reich, who also served as assistant secretary of state for the Western hemisphere.
 
“First the population cannot find food to eat and thus protests spread,” he writes. “People and money flee the country, beginning with the job creators.”
 
Then the government imposes currency controls.
 
“It progressively monopolizes political, economic, judicial, military, and police powers,” Reich says. “Foreign investment slows to a trickle or stops.”
 
The history of Cuba, the former Soviet Union, and Eastern Europe during the Cold War, shows that economic socialism ends in government repression. “The press is censored,” Reich writes.
 
“Coercion and hunger swell public anger. Protesters are beaten, jailed and occasionally executed.”

A free press is replaced with government-run media. “Inevitably, all dissent, especially that at the grass roots, must be extinguished lest someone reveal that the emperor has no clothes,” Reich states.
 
“If the people are so ungrateful or foolish as to not understand that all the central government's actions are being imposed upon them for their own good, then they will have to be taught that lesson by force.”
 
Bottom line: “socialism is obviously not working in Venezuela,” Reich concludes.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

White House Condemns Shelling of UN School in Gaza

Thursday, 31 Jul 2014 09:24 AM

The White House condemned the shelling on Wednesday of a United Nations school in Gaza that local authorities estimated  . . .

Russia Says US Accusations over Nuclear Treaty 'Unfounded'

Thursday, 31 Jul 2014 09:07 AM

Russia on Wednesday dismissed Washington's accusations that it has violated the Intermediate-Range Nuclear Treaty as "un . . .

G7 Leaders Warn of Further Costs to Russia over Ukraine

Thursday, 31 Jul 2014 09:03 AM

G7 leaders issued a joint statement on Wednesday warning Russia that it will face added economic sanctions if Moscow doe . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved