Socialist mismanagement and economic failure

Socialist governments have a track record of mismanagement leading to economic failures due to central planners' inability to manage an entire economy. Countries like Venezuela, China, Russia, Korea, Vietnam, Cambodia, and Cuba have experienced tyranny and ultimate failure under socialist regimes. The constant printing of money to address economic issues has led to massive inflation and the destruction of businesses, with government taking over control under the guise of running businesses better than profit-driven owners, resulting in widespread failures.