Venezuela was never really socialist, more populist. Chavez called himself a socialist, but really what he did was just give oil money to people.
Posted by
mafic
Sep 21 '16, 06:22
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There wasn't any building of infrastructure or delivery of social programs to speak of, just almost the most inefficient (and easy) kind of subsidies. It was bound to collapse once the oil money ran out, because they weren't actually building anything meaningful or lasting.
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