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originally posted in:Liberty Hub
Edited by C-Sentinel:
6/28/2016 1:19:26 AM
1
The main reason it's like that is because they invested so much in oil, and when the price of oil saw a major drop it crashed the economy.
Also don't nitpick. Look at Scandinavian countries. They all prosper.
Same thing the other way. Brazil is capitalist and has the 9th largest economy in the world, but poverty is out of control over there.
English
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Edited by Stallcall: 6/28/2016 5:32:02 AM[quote]Also don't nitpick. Look at Scandinavian countries. They all prosper.[/quote] Look at the Economic Freedom Index. Venezuela, a truly socialist economy, ranks 176th. Scandinavian countries all crack the top 30. The true engine for prosperity is economic freedom - it's disingenuous to compare Scandinavian economies with Venezuela and call both of them socialist. [quote]Same thing the other way. Brazil is capitalist and has the 9th largest economy in the world, but poverty is out of control over there.[/quote] Brazil ranks 122nd. I wouldn't call them "capitalist." (http://www.heritage.org/index/ranking)
