It can fairly be said that the most precarious jobs in the world are those of a golf ball collector…
Operation Absolute Resolve: Why Trump Went Off Script and Why it Will Not Matter
Operation Absolute Resolve: Why Trump Went Off Script and Why it Will Not Matter
05 Jan 2026 Leave a comment
in defence economics, economics of crime, International law, law and economics, politics - USA Tags: Venezuela
The United States Captures Nicolás Maduro and his Wife
04 Jan 2026 Leave a comment
in economics of crime, law and economics, politics - USA Tags: Venezuela
In an extraordinary military operation, the United States launched a large-scale military operation in Caracas, Venezuela with special forces seizing…
The United States Captures Nicolás Maduro and his Wife
It Happened Again! The New York Times Writes about Venezuela’s Collapse and Fails to Mention Socialism
16 Sep 2024 Leave a comment
in development economics, economic growth, economic history, growth disasters, history of economic thought, income redistribution, liberalism, macroeconomics, Marxist economics, politics - USA, Public Choice Tags: regressive left, useful idiot, Venezuela
I sometimes make the theoretical case against socialism. Usually, this means exposing the flaws of the core components of the socialist ideology. Government ownership of the means of production is a recipe for resource misallocation. Central planning has a miserable track record of failure because consumer preferences are ignored. Price controls distort incentives to make […]
It Happened Again! The New York Times Writes about Venezuela’s Collapse and Fails to Mention Socialism
Friedman vs Stiglitz: Estonia and Poland vs. Argentina and Venezuela
06 Sep 2024 Leave a comment
in applied price theory, comparative institutional analysis, development economics, economic history, economics of bureaucracy, entrepreneurship, growth disasters, growth miracles, history of economic thought, income redistribution, industrial organisation, international economics, labour economics, law and economics, liberalism, Marxist economics, poverty and inequality, property rights, Public Choice, rentseeking, survivor principle Tags: Argentina, Chile, Poland, regressive left, Venezuela
About 10 days ago, i showed that Milton Friedman was a much better economist than Joseph Stiglitz by comparing Chile (which followed Friedman’s ideas) and Venezuela (which followed Stiglitz’s ideas). It was a slam-dunk win for Friedman. Chile started poor and has become relatively prosperous. The opposite happened in Venezuela, which started relatively prosperous and […]
Friedman vs Stiglitz: Estonia and Poland vs. Argentina and Venezuela
Friedman vs Stiglitz, Chile vs Venezuela
16 Aug 2024 Leave a comment
in development economics, economic growth, economic history, economics of regulation, entrepreneurship, growth disasters, growth miracles, history of economic thought, income redistribution, labour economics, law and economics, liberalism, macroeconomics, Marxist economics, Milton Friedman, politics - USA, poverty and inequality, property rights, Public Choice, public economics, rentseeking Tags: Chile, free speech, political correctness, regressive left, The Great Enrichment, Venezuela
I’ve repeatedly praised Chile’s pro-market reforms (see here, here, and here) and I’ve repeatedly condemned Venezuela’s shift to socialism (see here, here, and here). But if you don’t have time to read all those columns, this chart from the Maddison database tells you everything you need to know. Simply stated, Chile’s reforms have delivered huge […]
Friedman vs Stiglitz, Chile vs Venezuela
Venezuela under “Brutal Capitalism”
31 Jul 2024 Leave a comment
in development economics, economic history, economics of bureaucracy, economics of crime, growth disasters, income redistribution, law and economics, liberalism, Marxist economics, property rights, Public Choice, rentseeking, resource economics Tags: Venezuela
Jeffrey Clemens points us to some bonkers editorializing in the NYTimes coverage of the likely stolen election in Venezuela. The piece starts out reasonably enough: Venezuela’s authoritarian leader, Nicolás Maduro, was declared the winner of the country’s tumultuous presidential election early Monday, despite enormous momentum from an opposition movement that had been convinced this was […]
Venezuela under “Brutal Capitalism”
Why have @jeremycorbyn @BernieSanders @MMFlint @AOC @TheOliverStone @NZGreens Sean Penn gone all quite on their socialist paradise?
20 Dec 2019 Leave a comment
in development economics, economics of bureaucracy, economics of crime, energy economics, growth disasters, income redistribution, international economics, law and economics, Marxist economics, politics - USA, property rights, Public Choice, rentseeking Tags: economics of socialism, useful idiots, Venezuela
Half of Venezuela’s oil exports were to the US until a few months ago
07 May 2019 Leave a comment
in development economics, energy economics, growth disasters, International law, politics - USA, Public Choice, rentseeking Tags: Venezuela
Why Colombia has taken in 1 million Venezuelans
28 Nov 2018 Leave a comment
in defence economics, development economics, energy economics, growth disasters, international economic law, International law, Marxist economics Tags: Columbia, Venezuela
Who is the real stupid party? #Corbyn @jeremycorbyn #toriesforcorbyn
03 Nov 2016 Leave a comment
in applied price theory, constitutional political economy, development economics, economics of bureaucracy, growth disasters, Marxist economics, Public Choice Tags: British politics, economics of socialism, Leftover Left, Old Left, The Great Escape, Venezuela
Chileans’ life expectancy is now higher than Americans’, while Venezuela’s still catching up
08 Feb 2016 1 Comment
in development economics, economic history, growth disasters, growth miracles, health economics Tags: Chile, life expectancies, The Great Escape, Venezuela
@OwenJones84 @K_Niemietz Venezuelan, Chilean and Chinese index of economic freedom rankings 2016
06 Feb 2016 Leave a comment
in development economics, economics of regulation, entrepreneurship, fiscal policy, growth disasters, growth miracles, industrial organisation, labour economics, law and economics, macroeconomics, monetary economics, property rights, public economics Tags: capitalism and freedom, Chile, China, The Great Escape, Venezuela
@OwenJones84 @K_Niemietz Ease of Doing Business in Latin America and the Caribbean – World Bank rankings
05 Feb 2016 Leave a comment
in development economics, economics of regulation, growth disasters, growth miracles, law and economics, property rights Tags: doing business, Venezuela
Source: World Bank Doing Business Database 2015.
@OwenJones84 @K_Niemietz GDP per capita has not more than doubled @chavezcandanga
05 Feb 2016 Leave a comment
in development economics, economic history, growth disasters, growth miracles, Marxist economics Tags: Argentina, Chile, China, left-wing populism, Leftover Left, Oil prices, The Great Fact, Twitter left, Venezuela
Source: The Conference Board. 2015. The Conference Board Total Economy Database™, May 2015, http://www.conference-board.org/data/economydatabase/
Utopia, you are standing in it! 
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