Venezuela is in a mass meltdown violently rising up against their own government as the structure of socialism they have held for several years comes to a screeching halt. Socialism as an ideology, described from a Marxist perspective as “a transitional social state between the overthrow of capitalism and the realization of communism (Merriam-Webster).” Venezuela was hailed by global elites as the pinnacle of socialism. Whenever discussing the viability of socialism they would call upon their gold star socialist state Venezuela. Venezuela was better for a short time under the rule of Cesar Chavez. Venezuela has a large amount of crude oil that can be processed and sold to surrounding nations and worldwide. This should be the driving force behind their economy in Venezuela.
However, the great ruler Chavez, now dead, did not invest in infrastructure or diversify and expand their industry. Maduro took over Venezuela and as they are failing, they have hit a measure far beyond just necessary austerity, they are at the point of full on collapse. They have no thriving domestic market to insulate their economy, the price of oil has continued to fall and they cannot sustain themselves anymore. They did not diversify their energy sources or worse build an infrastructure that could support oil refineries so that they could convert their crude oil in to a useful product for themselves and to be exported.
They have no monetary capital in order to bring goods back to Venezuela and move away from being nationalized to being globally privatized. They need to seek significant investment from other major countries in the form of loans in order to attempt to open a full free market system, rebuild infrastructure, build oil refineries and other diversified industries which is going to be a hard road for the Venezuelans to overcome, Their national debt takes such a large amount of their average GDP that whatever they are able to bring in to the government, a vast majority will be lost to pay back debts owed.
Then of course there is the real world and emotional consequences of Venezuela’s collapse. Protestors, some still loyal to Chavez, the one who made the choices that caused the problems they now face, riot in the streets. Protests have been going on for well over two months, people are rammed by military vehicle’s, trampled by crowds, struck with bullets and scream with their faces pushed against mesh fencing with nowhere to go. In Venezuela inflation has raised to the highest in the world, while the worth of their currency has plummeted, and the cost of food has risen. Due to the economic downturn Venezuela has seen a sharp decrease in the amount of goods and food imported in to the country. Grocery stores have become barren, and fridges empty, much of the Venezuelan population is starving. What is even more disturbing is the governments own actions to keep needed aid away from its starving citizens. Hank Berrein of “The Daily Wire,” wrote, “Food imports have dropped 70% since 2013 and the Venezuelan government. Meanwhile, government officials will not permit food and aid to be imported in to the country.” Even though “90% of the homes in the country could not afford to feed their residents.”
Parents are pleading daily for food for their children; fathers are in the streets rising up against the government and military asking for their help while many are slaughtered in the protests. Socialism, throughout history has always inevitably lead to mass suffering for the populations that enacted it. Venezuela must enact a new government, one free of further corruption, and hold an open election to stabilize their leadership. They must get investment back in to their countries by foreign entities, process and refine their own oil, invest in other exports in case of future economic collapse. It will take reducing inflation, raising the GDP, debating whether austerity is the best measure for feeding their current economy and managing their debt. This is a tall order, one that takes many strategic steps that could easily be derailed by foreign interest, power hungry elites or corrupt government but if they do not make changes and start down a new path immediately Venezuela is headed for complete and total collapse, one they may never be able to recover from and be plunged in to permanent starvation and poverty. It is time for Venezuela to rally for the survival of their people and their country.