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Abstracts prior to volume 5(1) have been archived!

Issue 5(1), October 2010 -- Paper Abstracts
Girard  (p. 9-22)
Cooper (p. 23-32)
Kunz-Osborne (p. 33-41)
Coulmas-Law (p.42-46)
Stasio (p. 47-56)
Albert-Valette-Florence (p.57-63)
Zhang-Rauch (p. 64-70)
Alam-Yasin (p. 71-78)
Mattare-Monahan-Shah (p. 79-94)
Nonis-Hudson-Hunt (p. 95-106) 



JOURNAL OF APPLIED BUSINESS AND ECONOMICS


Observations About Socialism and the Venezuela Economy



Author(s): Stephen T. Evans

Citation: Stephen T. Evans, (2020) "Observations About Socialism and the Venezuela Economy," Journal of Applied Business and Economics, Vol. 22, Iss.4,  pp. 89-96

Article Type: Research paper

Publisher: North American Business Press

​Abstract:

Greater socialism always leads to increasing national debts, but a greater threat is the entitlement mentality that is instilled. A USA survey shows that since 2016, those positive about capitalism dropped
from 60% to 56% while those positive about socialism increased from 35% to 37%. For people between the ages of 18 and 29, those positive about capitalism dropped 23% from 68% to 45%. Will the USA become another Venezuela with a GDP that went from $530 billion in 2015 to $276 billion in 2018? Giving more benefits to the populace than is sustainable always leads to long-term disaster.