Our friends at the CATO Institute’s Human Progress initiative shared with us a graph that is hard to forget.
It compares the GDP per capita from 1950 and 2019, between Chile and Venezuela.
You can see, in one chart, what socialism has wrought to one of the richest countries in the world by clicking here.
Check out this article by HumanProgress titled, “Chile is Thriving, So Why is Socialism Rising?”
As people grow rich, they tend to create alternative centers of power and authority flows away from the state. Thus, market-friendly dictatorships, such as Chile, Indonesia, Mexico, South Korea and Taiwan ended up not only prosperous, but also democratic. Socialist dictatorships, such as Cuba and Venezuela, maintain economic control, which prevents not only enrichment, but also democratization.
