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Good intentions bad consequences - unexpectedly


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#1 grggngll

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Posted 26 May 2013 - 08:51 AM

Yet, Chavez’s socialism has been a complete and utter disaster. Especially for the poor.

Chavez’s policies have undermined the country’s industrial sector. Thousands of businesses have disappeared and hundreds of thousands of jobs have been lost as a result. Labor participation has gone down from 52% to 46%. And with an average unemployment rate of 11%, the country has been suffering from mass unemployment ever since 1998. As a result of the Venezuela’s shrinking industrial base, the country is more dependent on imports than ever. In the past, the country produced other things of value besides oil. Not anymore. Now it’s virtually all the country is producing. Thus, oil constitutes almost 100% of its exports.

To pay for Chavez’s welfare programs, the government has resorted to money printing, i.e., inflation. And as a result, the cost of living has gone up by an average of 24% per year. Since 1999 “the cost of the dollar in bolívar terms has risen more than tenfold” (“The not-so-strong bolívar”, 2013/2/11, The Economist). Considering that the country is importing 70% of the food it needs, that translates into a substantial reduction of the Venezuelan standard of living. Real wages have dropped by 40% since 2000. Venezuela is actually the only country in the region with declining real wages. (“The Twisted Economics of Twenty-First-Century Socialism”, Foreign Affairs.)


http://capitalismmag...een-a-disaster/

#2 Cameron

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Posted 26 May 2013 - 09:03 AM

How did Venezuela change under Hugo Chávez?

• Unemployment has dropped from 14.5% of the total labour force in 1999 to 7.6% in 2009

• GDP per capita has risen from $4,105 to $10,801 in 2011

• Poverty has decreased - in 1999, 23.4% of the population were recorded as being in extreme poverty, this fell to 8.5% in 2011

• Oil exports have boomed - Venezuela has one of the top proven oil reserves in the world and in 2011 Opec put the country's net oil export revenues at $60bn. In 1999 it stood at $14.4bn

http://www.guardian....z-election-data

#3 Contumacious

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Posted 26 May 2013 - 09:36 AM

How did Venezuela change under Hugo Chávez?

• Unemployment has dropped from 14.5% of the total labour force in 1999 to 7.6% in 2009

• GDP per capita has risen from $4,105 to $10,801 in 2011

• Poverty has decreased - in 1999, 23.4% of the population were recorded as being in extreme poverty, this fell to 8.5% in 2011

• Oil exports have boomed - Venezuela has one of the top proven oil reserves in the world and in 2011 Opec put the country's net oil export revenues at $60bn. In 1999 it stood at $14.4bn

http://www.guardian....z-election-data


The article states :

"By looking at key indicators we can see that poverty levels and illiteracy have fallen but violent crime and inflation has increased. "

And who the flock provided and CONFIRMED those key indicators.

There is no way that you are going to convince me that FOR THE FIRST TIME IN THE HISTORY OF THE WORLD, A CENTRALLY PLANNED ECONOMY FLOURISHED - PURE BULLSHIITE.

.

#4 Cameron

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Posted 26 May 2013 - 09:43 AM

The article states :

"By looking at key indicators we can see that poverty levels and illiteracy have fallen but violent crime and inflation has increased. "

And who the flock provided and CONFIRMED those key indicators.

There is no way that you are going to convince me that FOR THE FIRST TIME IN THE HISTORY OF THE WORLD, A CENTRALLY PLANNED ECONOMY FLOURISHED - PURE BULLSHIITE.

.

The OP post gives an unemployment rate for Venezuela as "an average unemployment rate of 11%"

Those "key indicators" give "an unemployment rate of 7.6% in 2009."

Check out who is correct and who is trying to bamboozle ya. :D

That's an easy one to check.

Google is your friend.

#5 Calamari

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Posted 26 May 2013 - 12:08 PM

Another gurgles thread completely fails - unexpectedly.

#6 grggngll

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Posted 26 May 2013 - 12:55 PM

Just like any other third world banana republic, 0 is also manipulating the unemployment rate, by 'massaging' the participation rate. Mostly for internal consumption for the high emo low info crowd.

All they can do is lie about how things are, because we all know socialism never works.

Just like any other dictator, we need 0's body embalmed and preserved for all mankind to be remembered as the failure that he is.




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