Four days without electricity in Venezuela #SinLuz #SocialismKills
Since Thursday afternoon (four days ago at time of publication), Venezuela has been facing a power outage. So far, it has killed 19 hospital patients (modern hospitals rely on electricity for patients to survive for longer). Thus, the situation in hospitals in Venezuela looks more like the nineteenth century, when hospital patients were unlikely to survive a visit. In the early morning hours, there was an explosion of a transformer in Caracas, as a result of lack of government care and maintenance. If it were privately owned, they would fix it quickly. A nationalized industry means that the government decides on who will receive the benefits instead of the private owners. Nationalizing industries is for losers. For example, PDVSA is nationalized, but it is in big trouble. The only way to save PDVSA is to privatize it. Big government bureaucrats rely on corruption rather than efficiency. State-run industries are too inefficient, let alone government control of the private secto...