Episode 81: Despite Its Rebranding, Socialism Is Still Horrific
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The Role of Capital in Socialism
When you call for the state to own the means of production it is precisely here that socialism tends to go off the rails. Venezuela sits atop the largest oil reserve in the world. They're so resource rich that they should always be able to fund a good deal more socialism than most other places. There's a great video I ran across about six months ago of a bakery in New York and the intent of the owners was to make this bakery an example of socialism in action. A relatively similar story with a pizzeria in Boston that went out of business a year or two after it opened because they found that this is a model that just doesn't work.
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