The Economic Record Of Socialism -- Cuba And Latin America
/With a radical far-leftist in serious contention for the presidency in our upcoming election, it is worthwhile to check in on the record of leftism and socialism in other countries.
It so happens that pretty much every country to our South in the Western Hemisphere has a long history of some variety of leftist/socialist politics. With a few exceptions here and there, when there has been an election in Latin America in my lifetime, the winning strategy has been to run against the “Yanqui imperialists” and advance a program of “social justice” and redistribution.
Particular policies vary from country to country, but the usual playbook includes such things as massive government intervention in the economy, government ownership of major companies (starting with the energy industry), central planning, requirements of multiple licenses and permits to start any business, and many more such.
Recent elections have continued or returned leftists to power in all but one of the most important countries — Brazil, Mexico, Colombia, Chile.