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A comment on Venezuela Declares Every Friday a Holiday to Save Electricity. Parent comment

Re:Venezuela Declares Every Friday a Holiday to Save Electri... by pavpanchekha on Thursday April 07, 2016 @12:04PM (#11448339)
Electricity is sold to consumers at a price lower than that at which it can be bought from other countries. This of course is the source of the overuse and failing infrastructure.

The country is communist, so the government has direct control over prices, and of course set them this low because it was politically expedient, not because it was sane.

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Re:Venezuela Declares Every Friday a Holiday to Save Electri... by JoeAltmaier on Thursday April 07, 2016 @12:05PM (#11448344)
One of the reasons. The other: nationalized industries are rotten with corruption.
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Re:Venezuela Declares Every Friday a Holiday to Save Electri... by Jtsummers on Thursday April 07, 2016 @12:55PM (#11448737)
Monopolies are rotten with corruption. Nationalized industries are monopolies, and often headed by non-industry people so the nature of the corruption tends to be more catastrophic, and correction is much, much harder than in the case of a corporation with a monopoly.
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