[Dec31,1999]

I didn't know that. In what way were they socialist? It is quite doubtable. What was nationalized? Did they have the right to own property? Please expound.

But I was referring to South America as well, where conditions are similar.

[discostu]

Most industry in Mexico was nationalized. Pay scales were set by law. For extended periods asking for a raise was a jailable offense.

South American nations are also largely socialize/ command economy. The government runs things, and does so poorly, thus resulting in mass poverty and all those things people incorrectly blame on capitalism. The problem isn't capitalism, it's government.