Hat Tip to Monica Showalter for this post. Her blog led me to this “video treasure on Twitter,” which was posted by economist Steve Hanke, Johns Hopkins University. 

The video is in Spanish but it’s clear enough for non-Spanish speakers to catch the message. The photos and graphics alone are sufficient to explain the narrative of the devastation which once gripped Chile and now overwhelms Venezuela. What did Chile do to overthrow its imminent collapse? In a word, it embraced a free market model. What did Venezuela do to go from an economic powerhouse in 1975 to a basket case today? In a word, see the clip.

It’s a bit over 2 minutes and well worth your time.

  https://twitter.com/steve_hanke/status/1129035468945928193