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Venezuela's Economic Collapse Is Linked to Its Socialist Policies

• https://fee.org, by Kristian Niemietz

Venezuela is "experiencing problems," because the country has taken a "wrong turn," Shadow Chancellor John McDonnell remarked over the weekend. That is a bit of an understatement, but I suppose we can agree on his basic point.

McDonnell's diagnosis of what that "wrong turn" was, however, was a creative one:

I don't think it was a socialist country…it took a wrong turn when Chávez went and I think unfortunately since then, I don't think they have been following the socialist policies that Chávez developed. And as a result of that, they're experiencing problems.

Unfortunately, the interviewer did not press McDonnell to be a bit more specific about this claim. Which of "the socialist policies that Chávez developed" have been abandoned, discontinued, or reversed by Nicolas Maduro's government?

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