Venn Diagram of the Day

1. Venn Diagram of the Day (above). Inspired by the March 6, 2013 article Salon article titled “Hugo Chavez’s economic miracle” (by David Sirota), here’s a slice:

Chavez became the bugaboo of American politics because his full-throated advocacy of socialism and redistributionism at once represented a fundamental critique of neoliberal economics, and also delivered some indisputably positive results.

As I wrote more than 20 years ago:

In the same way that a Ponzi scheme or chain letter initially succeeds but eventually collapses, socialism may show early signs of success. But any accomplishments quickly fade as the fundamental deficiencies of central planning emerge. It is the initial illusion of success that gives government intervention its pernicious, seductive appeal. In the long run, socialism has always proven to be a formula for tyranny and misery.

Exhibit A: Venez