The Economic Ruination of Venezuela

The government of Venezuela is sending the country into economic and social disaster.

Monetary inflation, farm seizures, price controls and subsidies have led to enormous increases in prices, shortages in food, water, medicine, energy and toilet paper. Citizens are resorting to desperate measures in order to survive.

Even with hydropower stations and large reserves of oil, a lack of capital maintenance means that these assets are falling apart and not able to produce much output.

Poor economic ideas lead to death and this is now playing out in Venezuela. Who will survive and what ideas will they have when they attempt to rebuild the country?

As outlined by Stefan Molyneux: