Ecuador is just the latest country to prove that socialism does not work. Building schools and clinics is good. That is because a health educated population is good for a country and all the people in a country. Building infrastructure is also good for a country.
I think that the problem with socialistic leaders is that it is more amount power and authority than in really helping the poor. These sorts of leaders tend to restrict free speech and any political opposition. They often give out money to the poor, but this seems mostly to make the poor dependent on them not to give them freedom and a better life.
If they really wanted to help the poor it would be better if they get out of their way. In most of South America it is very difficult to do business. It is almost impossible to set up a business, especially if you are poor. Ecuador ranks 114 in the ease of doing business according to the World Bank.
Lots of poor in South America live in shanty towns. I do not see why the government cannot give the land that people are living on to those people so that they would own something of value. The reason the US took off initially was that millions of people got plots of land for farming. In South America most of the land was owned by few people this is probably why they did not have the economic boost that the America's got.
I also do not see why Detroit or Chicago instead of reclaiming and tearing down abandon properties do let people homestead these places.
And, by the way, UK had the rule of law before democracy. It would be helpful if poor countries had this and it applied to the rulers as well as the ruled.
And another thing I do not understand. Why it Castro praised but Pinochet condemned. They were both murderous. At least Pinochet left the Chilean economy is good shape. If it was you or your family getting tortured and killed would you care if the person directing it professed left or right wing political aims? Would you get any comfort from the fact that they profess left wing drivel rather than right wing drivel?
The last thing I would like to point out is that I feel that it is dangerous that some people, especially the young say that communism has not really been tried as Marx meant it to be. This just opens up the possibility others trying communism and creating more human suffering.
If you want to read some interesting ideas on economics you should try Hernando De Soto . I especially liked his The Mystery of Capital. He may not be right, but he certainly is interesting. Another of my favorite author is Paul Collier. You can hear him on Ted.com . You can see what books he has written at Amazon.
On my other blog I wrote today Manulife Financial Corp. (TSX-MFC, NYSE-MFC)... learn more. Tomorrow, I will write about Emera Inc. (TSX-EMA, OTC-EMRAF)... learn more on Wednesday, February 22, 2017 around 5 pm.
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