Venezuela crisis highlights welfare trap

The political turmoil in Venezuela has escalated in the past few days with the United States and two Latin American countries recognizing opposition and National Assembly leader Juan Guaido as the "country's leader" after President Nicolas Maduro's government put down a military mutiny.

The root cause of Venezuela's persistent turmoil and the present crisis is its economic failure, which perhaps can be attributed to its unsustainable social welfare plans.

Reaping without sowing, even in the name of social justice, would undermine the enthusiasm of workers and squeeze investment, which otherwise could be used to sustain economic and social development.