Venezuela is falling apart. Its economy? Ruined. Its people? Hungry. Its government? Corrupt. What happened? In a word, socialism. Debbie D'Souza, a native Venezuelan and political activist, explains. Donate today to PragerU! http://l.prageru.com/2ylo1Yt Have you taken the pledge for school choice? Click here! https://www.schoolchoicenow.com Joining PragerU is free! Sign up now to get all our videos as soon as they're released. http://prageru.com/signup Download Pragerpedia on your iPhone or Android! Thousands of sources and facts at your fingertips. iPhone: http://l.prageru.com/2dlsnbG Android: http://l.prageru.com/2dlsS5e Join Prager United to get new swag every quarter, exclusive early access to our videos, and an annual TownHall phone call with Dennis Prager! http://l.prageru.com/2c9n6ys Join PragerU's text list to have these videos, free merchandise giveaways and breaking announcements sent directly to your phone! https://optin.mobiniti.com/prageru Do you shop on Amazon? Click https://smile.amazon.com and a percentage of every Amazon purchase will be donated to PragerU. Same great products. Same low price. Shopping made meaningful. VISIT PragerU! https://www.prageru.com FOLLOW us! Facebook: https://www.facebook.com/prageru Twitter: https://twitter.com/prageru Instagram: https://instagram.com/prageru/ PragerU is on Snapchat! JOIN PragerFORCE! For Students: http://l.prageru.com/29SgPaX JOIN our Educators Network! http://l.prageru.com/2c8vsff Script: Once there was a South American country with a promising future. It had a functioning democracy, a rapidly developing economy, and a growing middle class. All the important indicators, including education, health care, and foreign investment, were pointed in the right direction. It was far from perfect, but the mood was hopeful – and with good reason. But now all that promise is gone. The country is a failed state, a hollowed-out shell of its former self. Services like power and water are sporadic. The most basic consumer goods, from bread to toilet paper, are in chronically short supply. Crime has skyrocketed. Freedom of the press is almost non-existent. Democracy has been replaced by a virtual dictatorship. The country is, I’m sorry to say, my beloved Venezuela, a place in which my family has deep roots. I can tell you what happened to it in one word: socialism. In 1999, then-candidate for president Hugo Chavez promised to lead the people of Venezuela to a socialist paradise. His theme was “Esperanza y Cambio” – “Hope and Change.” “Venezuela is a nation of great wealth,” Chavez said, “but it’s being stolen from its citizens by the evil capitalists and the evil corporations.” This wrong would be righted, he assured the voters, if they elected him. And they did. To their everlasting regret. Chavez drew inspiration from his mentor, Fidel Castro. Like his mentor, he enjoyed giving speeches – some that lasted as many as seven hours! He even gave himself his own weekly television show where he would spontaneously break into song. Here’s a rule: When your nation’s leader starts singing on national television, you’re in trouble. Under Chavez, the government of Venezuela took over industry after industry. The government, he assured everyone, would run these businesses better than private enterprise, and the profits would be “shared” by the people. With great fanfare, he tore up contracts with multinational oil and gas companies and demanded that they pay much higher royalties. When they refused, he told them to leave. They did. His image was burnished by Hollywood celebrities who flocked to see the great work he was doing – taking money from the rich and giving it to the poor. Progressive politicians from the US and Europe also praised him lavishly. Here’s another rule: When Hollywood celebrities visit your country to praise your leader, you’re in trouble. When the leader sings on national television and is praised by Hollywood celebrities, you’re doomed. Socialism always works in the beginning, so people are fooled...in the beginning. It’s easy for governments to confiscate money, but eventually there’s no more money to confiscate. In the case of Venezuela, I mean that literally: People who could get money out of the country, did. Many left the country altogether – nearly 2 million, according to Venezuelan sociologist Tomás Páez. The wealth creators continued to create wealth, but they created it somewhere else – Miami or Madrid and other places around the world. When Chavez first ran for President in 1999, he said he would leave in two years if people weren’t happy with him. But, like Castro, Chavez never had any intention of giving up power. He died in office in 2013, replaced by his vice president, Nicolas Maduro. Maduro is Chavez without the charisma or the voice. For the complete script, visit https://www.prageru.com/videos/hows-socialism-doing-venezuela

• published: 28 Aug 2017
• views: 848928