What is abundantly clear is that Corbyn is nowhere near making a Venezuelan style offering. There is no revolution in the air, nor of anything like the types of reforms tried in Venezuela, which was and is a very different country to the UK, rendering any such comparison almost utterly meaningless.
So what are the two things that fucked Venezuela then?
1) Price fixing thereby destroying the market. Even Owen Jones has agreed that these were a disaster. And Jezza and others are pushing the idea of price fixing in labour (minimum wages), rent controls, train tickets, utility prices……ah, right, so it is like Venezuela then.
2) Printing vast amounts of cash that the government can then spend.
It’s depressing, but the simple fact is that now is the time to make the case for the modern mixed economy where state and private sectors work in harmony for the benefit of everyone. It may look like a good old compromise. And it is, with the added twist that policies like People’s QE add to it.
So, we’re fucked then, right?