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RE: Socialism is not profitable anymore: Government of Venezuela announces austerity measures.
In practice versus what people wanted are two different things. There are obviously many things that went wrong that did not occur due to the system itself. Any country can have their economy implode overnight regardless of their system in place. People love to harp on "socialism is evil! look at venvnnzuzla !!" but that's irrelevant when countries like denmark or iceland exist as counter-examples.
I agree with you, I also like Denmark and Iceland, in fact, both have greater economic freedom than the United States, and could also include Norway, although I would sincerely prefer Switzerland.
But all the expenses that the State assumes must be paid by someone, and as the State becomes bigger, more money is needed. If that great State that can pay, give and subsidize everything were possible without unbalancing the economy, I assure you that there would not be a person in the world who opposed that socialism.
Hence why a globalized socialistic economy would benefit everyone much better than our fractured imperialistic capitalistic hellhole we live in now.