Before economics, human freedom: Learning from Venezuela’s collapse
The Venezuelan people continue to struggle and suffer under the weight of severe socialist policies, facing economic collapse, widespread poverty, and mass starvation. In response, socialism’s critics are quick to focus on the external features, noting how all of this could have been easily avoided with a basic respect for property rights, free exchange, free prices, and so on. But while the economic drivers and indicators deserve plenty of emphasis, we should also be mindful of the deeper effects of...