Venezuela’s Economy Under Chavez, by the Numbers

από : Ο Panos Haritos
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Many Venezuelans, mainly among the poor, are intensely mourning the passing Tuesday of President Hugo Chávez, whom they viewed as their “champion”, a father figure who after 14 years in power is taking on near saint-like meaning for them.

 

AFP/Getty ImagesA man walks past a mural of Venezuelan President Hugo Chavez in Caracas.

In their name, the charismatic Mr. Chávez implemented what he called “21-Century Socialism,” which in practice involved nationalization of broad swaths of the economy, especially in “strategic sectors” such as all the important oil industry — Venezuela sits atop the world’s largest oil deposits — telecommunications and power. He expropriated more than 1,000 businesses, sundry farmlands and urban properties, often without compensation, arguing that the seizures were justified either because the owners were in various ways corrupt or the seizures would improve the lots of the poor, usually both. In the process, he engaged in class warfare, demonizing the country’s middle- and upper classes as the “Squalid Ones.” ( ... )

... η συνέχεια ΕΔΩ : http://blogs.wsj.com/economics