Socialism, in its pure form, has often faltered due to inherent flaws in central planning and human incentives. Historical examples abound: the Soviet Union’s command economy led to inefficiencies, shortages, and stagnation, culminating in its 1991 collapse amid corruption and bureaucratic bloat. In Venezuela, nationalization of industries under Chávez and Maduro resulted in hyperinflation, food scarcity, and mass exodus, as oil-dependent policies ignored market signals. Cuba’s system stifled innovation and economic growth, relying on subsidies that proved unsustainable. These failures stem from suppressed individual initiative, misallocation of resources, and authoritarian tendencies that erode freedoms. While mixed socialist elements succeed in Scandinavia, unadulterated socialism frequently breeds poverty over prosperity
