Statistics Corner: Venezuela – a Country of “Success”

This article contains commentary which reflects the author's opinion
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The Impact of Socialism in Venezuela

Venezuelan bolivars clutter the streets like autumn leaves. Even toilet paper, particularly these days, is more valuable. It is not exactly a tourist destination, either. Their government could not be self-sufficient if they tried. When it comes to Venezuela, it is best described as a dung hole.

Venezuela is not a pretty place, though the left would have you assume the contrary, of course. Not to mention, sadly, people can barely eat. Clearly the money does not go around to everyone. Also, they do not reap much money from trade deals. It is a nation in crisis mode.

It is fatuous that progressives seek a socialist America. Most of them are incapable of being persuaded. Progressives should consider America’s overall homicide rate. In Venezuela, this is a calm afternoon. Let’s analyze the top faults of Venezuela. Maybe we can educate the left.

The Venezuelan Government

The President of Venezuela, though disputed since 2019, is Nicolas Maduro. Hugo Chavez had formerly been their dictator until his death in 2013. So they remain ruled by Venezuela’s United Socialist Party (PSUV). The PSUV adheres to anti-capitalism and socialism.

PSUV has faced accusations of corruption and abuse of human rights. Under their rule, people face food and medicine shortages. Their economic mismanagement ruins civilian life, also. Consequently, they have caused mass unemployment. Not unexpectedly, authoritarian governance has proven itself to be elitist.

The Bolivar Reeks, and Careers are Non-Existent

Consider one United States Dollar (USD); It takes 248,247 Venezuelan bolivars to equal one dollar. So one bolivar equals 0.0000040243 of a USD. A conversion of currency lesson is not necessary, as not everyone understands the complexity of currency, that’s true. Yet by looking at it, the definitive difference is clear.

Venezuela struggles with retention in the workforce, and many are attempting to leave the region. And so the country bids farewell to excellent workers. It is a fact the primary employer is the petroleum industry. Work in coal, steel, and aluminum comes second. In North America, these careers pay well. Yet Venezuela’s government is grappling with economic growth.

Venezuela primarily depends on crude oil. Agriculture sits at the number two position. The country’s cultivation includes rice, corn, and citrus fruits. Let’s note that manufacturing accounts for 40.4 percent of its workforce, with farming massively behind at 4.7 percent. They are ranked 62 on the Gross Domestic Product (GDP) index, as well. The United States ranks at number one.

Ranked Third in Murders

Venezuela is listed third in per capita rankings for murder, not shockingly. A 2019 report estimated that 60.3 per 100,000 civilians are killed annually. Around 60 people are murdered a day. Migration and social strife are the key causes of murders. Admittedly, rates have fallen by 15 percent since 2016, though not enough to award them a medal.

Venezuelans lived below the poverty line, 87 percent, in 2017. Unlike the US which had a poverty rate of 11.8 percent in 2018. Wait, so socialism and expansion of the welfare state aren’t working? If socialism works, why does the US have a much lower rate of poverty?

Summing it Up: Venezuela Lacks Success  

Another Statistics Corner comes to a close. Let’s recap why Venezuela is so terrible. First, the Venezuelan government is elitist. Second, the bolivar is worthless, and it is dropping fast. Third, the shameful rating of their GDP. And finally, they have an ugly record of homicides.

As one would expect, the country is going under every day. Furthermore, they are suffering from deprivation. Lastly, we can add unrest and dictatorship to it. There you have it; Venezuela, a land of prosperity. The facts speak for themselves.

Capitalism, in reality, remains tried and true. It is the fairest system of economic distribution. This system pulls people out of the gutter. Capitalists therefore lead happier lives. Unlike Venezuela, I think we’re alright.

Next time on Statistics Corner, get ready! Because we party MAGA-style. We will analyze President Trump’s approval rating. Also, we look at his key demographics, and examine his state-by-state popularity. Lastly, we talk about his chances of defeating Sleepy Joe. Until next time, shalom.

Brendon Stitt

Brendon Stitt

Brendon Stitt is a writer for NRN. He has a master's degree in business and a vast knowledge of economics. Stitt's a neighbor to the north from Canada, though follows US politics religiously. Stitt covers a variety of topics from sports, to business and the markets, pop culture, and so much more.

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