The Socialism of the 21st Century is on its Way out | ThinkMarkets In Venezuela, government policies have led to high levels of inflation, shortages and swelling corruption. There is not even enough toilet paper. In Ecuador, political stability and increases in infrastructure spending, at first, seemed to contribute to a more favorable economic development. But after ten years of socialist rule, also in Ecuador the economy is in a terrible state. Public debt is skyrocketing, the GDP growth rate is negative for the second year in a row, and corruption (for instance in managing the public oil company) is omnipresent. The Socialism of the 21st century has proven to be the same kind of authoritarian project that disrespected human rights and reduced to ashes the economy in Cuba, the GDR, or the Soviet Union.
Sowell’s rise: Eddie told him to switch schools — Joanne Jacobs Sowell loathes the grievance culture. Life is “tremendously better” for educated blacks “who have not succumbed to a new lifestyle — the grievances, and the coarseness represented by rap music,” he believes. “What’s disheartening, though, is that when you study ethnic groups around the world, the ones that are lagging behind are those where their leaders always tell the same story: that it’s other people holding you back, and that therefore you need to stand against those other people and resist their culture. But that culture may be the key to success.”