World Citizen: The Death of Chavismo

When the global economic crisis struck, Venezuelan President Hugo Chávez gloated. The woes of capitalism, he believed, would give a boost to his brand, helping spread Chavismo throughout Latin America. Chávez, the designer of that unique ad hoc blend of personality-driven socialism and nervously semi-free markets, prophesied the imminent collapse of capitalism. He confidently promised his followers that, under his leadership, Venezuela would remain “armor plated” against recession. Today, capitalism appears to be limping back to life thanks to generous infusions of government funding. The news for Chávez and his followers, on the other hand, looks rather dismal. Not only […]

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