Let’s start by pointing out Bernie Sanders is not a socialist, even though he bills himself as one. That’s a slogan, maybe the opposite of saying “Let’s Make America Great Again.” Senator Sanders does not advocate the state seizing the means of production from private enterprises. He is merely a garden variety Communist-leaning Democrat who wants to raise taxes to levels never seen before. His fans like that because they don’t make much money to be taxed and never will.
To see true socialism, look to Venezuela, three decades ago the strongest and most prosperous economy in South America thanks to abundant natural resources such as oil, nickel, gold and diamonds. Economists call that “the curse of plenty.” Richard Fernandez at PJ Media picks up the story:
“The resource curse duly gave Venezuela the expected success of corrupt and incompetent governments. But when the Venezuelans sought relief from the ordinarily corrupt governments in a Marxist named Hugo Chavez, they found it was possible to go from bad to worse. A Marxist government, disastrous in itself, was supercharged by the culture of corruption and the availability of ready money. … Chavez and his successor Nicolas Maduro, with money to back them, were able to embark on a lavish program of insanity. Chavez controlled prices, showered Cuba with aid and borrowed billions from China will simultaneously destroying the ability of businesses to operate.”
Now the people of Venezuela must endure shortages of everything, from electricity to beer to toilet paper. More from Mr. Fernandez: “The lights didn’t go out in Caracas all at once. The wiring was stolen bit by bit; the turbines had been neglected year by year: the engineers had departed plane by plane …”
That is the “paradise” socialists create for their children.