That’s more than can be said for some of Chávez’s erstwhile defenders, who would prefer to forget just how closely Venezuela followed the orthodox socialist script. Government spending on social programs? Check: From 2000 to 2013, spending rose to 40 percent of G.D.P., from 28 percent. Raising the minimum wage? Check. Nicolás Maduro, the current president, raised it no fewer than six times last year (though it makes no difference in the face of hyperinflation). An economy based on co-ops, not corporations? Check again. As Naomi Klein wrote in her fawning 2007 book, “The Shock Doctrine,” “Chávez has made the co-ops a top political priority … By 2006, there were roughly 100,000 cooperatives in the country, employing more than 700,000 workers.”

And, lest we forget, all of this was done as Chávez won one election after another during the oil-boom years. Indeed, one of the chief selling points of Chavismo to its Western fans wasn’t just that it was an example of socialism, but of democratic socialism, too…

All of this used to be obvious enough, but in the age of Alexandria Ocasio-Cortez it has to be explained all over again. Why does socialism never work? Because, as Margaret Thatcher explained, “eventually you run out of other people’s money.”