Equating capitalism with colonialism, Africa’s nationalist leaders rejected it and adopted socialism in the 1960s. Foreign companies were nationalized, a string of state-owned enterprises was established and a plethora of state controls on rent, prices, imports, and foreign exchange were imposed to capture the commanding heights of the economy.
Here you can see an illustration of hyperinflation since 1980 until the end of 2018.
“There are two sides to every issue: one side is right and the other is wrong, but the middle is always evil … In any compromise between food and poison, it is only death that can win. In any compromise between good and evil, it is only evil that can profit.” (Galt’s Speech)
In this series we will publish weekly cutouts from the book by Kristian Niemietz
In the 70’s, Chile was a country devastated by Salvador Allende's interventionist policies. The socialist government had destroyed the economy and destabilized society, leaving the nation in a complete socio-economic ruin which was compounded by the lack of individual freedoms. Given the worrying situation, not surprisingly, the Chilean economy was moribund and other Latin American countries such as Mexico, Venezuela, and Argentina easily surpassed their standard of human development.
Sixty years ago, while thousands of Cubans were celebrating the fall of the regime of Fulgencio Batista, a fevered atmosphere filled with a mixture of hype and hate was taking over Havana. Few foresaw what was coming next. On January 1, 1959, the Republic of Cuba was killed.
Fifteen thousand Cuban intelligence operatives and ‘military advisers’ bar the path to democracy in Venezuela. Luis Amalgro, Secretary-General of the organisation of American States, has described them as “an occupation army that teaches to torture, to repress, to do intelligence tasks, civil documentation, migration.”
The first time I couldn’t buy food at the grocery store, I was 15 years old. It was 2014 in Caracas, Venezuela, and I had spent more than an hour in line waiting. When I got to the register I noticed I’d forgotten my ID that day. Without the ID, the government rationing system would let the supermarket sell my family the full quota of food we needed.
Many speak of Artificial Intelligence (AI) as being a force of the future – unaware that these intelligent beings are already manifesting themselves in their daily lives. These human-like machines are undoubtedly here to stay, and they will continue to grow, become more intelligent and have a greater influence in our day-to-day lives.
Can we call the legitimate will of the Venezuelan people to recover their country's freedom and democracy a "coup"?
