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View Diary: Hugo Chavez's Economic record (25 comments)

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  •  It does appear that there is a certain amount of (12+ / 0-)

    laziness with regard to Chavez with people who should know better.

    From the Salon article..

    No, Chavez became the bugaboo of American politics because his full-throated advocacy of socialism and redistributionism at once represented a fundamental critique of neoliberal economics, and also delivered some indisputably positive results. Indeed, as shown by some of the most significant indicators, Chavez racked up an economic record that a legacy-obsessed American president could only dream of achieving.

    For instance, according to data compiled by the UK Guardian, Chavez’s first decade in office saw Venezuelan GDP more than double and both infant mortality and unemployment almost halved. Then there is a remarkable graph from the World Bank that shows that under Chavez’s brand of socialism, poverty in Venezuela plummeted (the Guardian reports that its “extreme poverty” rate fell from 23.4 percent in 1999 to 8.5 percent just a decade later). In all, that left the country with the third lowest poverty rate in Latin America. Additionally, as Weisbrot points out, “college enrollment has more than doubled, millions of people have access to health care for the first time and the number of people eligible for public pensions has quadrupled.”

    When a country goes socialist and it craters, it is laughed off as a harmless and forgettable cautionary tale about the perils of command economics. When, by contrast, a country goes socialist and its economy does what Venezuela’s did, it is not perceived to be a laughing matter – and it is not so easy to write off or to ignore. It suddenly looks like a threat to the corporate capitalism, especially when said country has valuable oil resources that global powerhouses like the United States relies on.

    For a flamboyant ideologue like Chavez, that meant him being seen by the transnational elite as much more than an insignificant rogue leader of a relatively small country. He came to be seen as a serious threat to the global system of corporate capitalism.

    That, of course, is considered a high crime by the American political illuminati – a high crime prompting a special punishment.

    One would hope that people would look at the history of Venezuela, and the movement social democracy in South America before deciding if Chavez should have been made into a bete noir by American interests.   Clearly his record has be distorted by forces which would prefer his country return to its status as a US client state and oligarchy.

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