Socialism – Not Oil Prices – Is to Blame for Venezuela's Woes

For about a decade, Progressives were in the grip of Venezuelamania. Venezuela's version of socialism was their shining example, the model which the rest of the world should emulate. When the country's meltdown could no longer be denied, they dropped it like a hot potato. And a long period of silence ensued. But recent events have forced the issue back on the agenda again.