Fascinating & depressing situation in Venezuela: No water, a dead main currency, and a state-approved scam cryptocurrency

[donkdowndonedied]

How is this “communism failing in practice”? Venezuela is communism in name only.

And I'd add.. where has a free market economy actually ever thrived for 100+ years ? Afghanistan? I'm not saying it hasn't happened.. i'm just curious.

Any type of government that issues a currency can also print as much as it desires... This is like cryptocurrency 101. It has nothing to do with capitalism vs socialism.