Figure 1.-- Click on the image to see John Stosel introducing Guatemalan Gloria Alvarez's insightful assessment of the falure of socialism.

Socialism was the creation of Karl Marx, Frederich Engels, and other 19th century thinkers. Beginning with the Bolsheviks and the Russian Revolution, some 50 countries have created socialist economies. This included Easter Europe where the Soviet Union imposed brutal Communist dictatorships, several Asian countries (most spectacularly China), and several of the new independent states as part of the post-World War II as part of the de-colonization process. These countries compiled a record of economic failure without parallel. And all including the Soviet Union which imploded (1991) have been abject failures, many leaving mass graves in their wake and poverty. And none permitting free elections allowing citizens to have any say in their government or economy. The simple fact is that the only prosperous countries are countries with core capitalist economies. Human are hard-wired to pursue self interest and other individualist pursuits. Thus to create a socialist economy totalitarian violence is required. Several of these failures have been in Latin America (Cuba, Nicaragua, and Venezuela). Socialism has not fared any better in Latin America than it has in Africa, Asia, or Europe. In fact the most spectacular failure of socialism has been in Latin America. Communist imposed Socialism has turned a country with huge oil resources into a failed pauper nation with a hungry population, unable to find needed food stuffs in the shops. And even more failure has been reported by countries adopting socialist policies, but not yet the totalitarian system needed tn install a fully socialist economy. Despite all this failure and millions voting with their feet heading for El Norte, socialism remains a popular concept throughout the region, attracting electoral support throughout the region.

Created: 3:31 AM 5/18/2023
Last updated: 3:31 AM 5/18/2023