Observations About Socialism and the Venezuela Economy

Abstract

Greater socialism always leads to increasing national debts, but a greater threat is the entitlement mentality that is instilled. A USA survey shows that since 2016, those positive about capitalism dropped from 60% to 56% while those positive about socialism increased from 35% to 37%. For people between the ages of 18 and 29, those positive about capitalism dropped 23% from 68% to 45%. Will the USA become another Venezuela with a GDP that went from $530 billion in 2015 to $276 billion in 2018? Giving more benefits to the populace than is sustainable always leads to long-term disaster.