Things are not going too well in Venezuela..
The pundits on the Left charge the “politicians” and not socialism per se, but the results are easy to see. Looking Into the Black Box of Venezuela’s Economy | Foreign Policy.
The local currency, the bolívar, has lost 70 percent of its value in the black market this year, and “legal” dollars are hard to find. Price controls and regulations on imports have made many basic staples disappear from the shelves. What remains is often unaffordable to most, as purchasing power in dollar terms has plummeted. (The photo above shows a worker walking past banners depicting Venezuelan currency.)
They don’t mention that price controls and import restrictions are part and parcel of socialism. Control of the economy by the government has never worked out well.
And to add injury to the insult, there is a beer shortage. Venezuela risks running out of beer during heat wave amid supply shortages | World news | The Guardian.
Anyone who can get gone, is going. Headhunters are taking advantage of Venezuela’s decaying economy – Business Insider.
Highly trained Venezuelans are seeking to escape a decaying socialist economy in which they often have to work second jobs and spend hours in line to buy basic goods such as milk or diapers.
The crisis has created a fertile market for global search firms including Korn/Ferry, Caldwell Partners and Stanton Chase as well as smaller regional companies.
Info Tech professionals have options, as well as petroleum engineers.
The most sought-after professionals include IT experts who face few opportunities in Venezuela’s withering private sector and oil and gas engineers loathe to work for state-run PDVSA, which under late socialist leader Hugo Chavez became focused on social development projects rather than operational efficiency.
Socialism: eventually you run out of other peoples’ money.