Editor’s Note: The following piece originally appeared at Populyst. It is reprinted here with permission. Venezuela is bankrupt, having just defaulted on three interest payments. And much of the world is pointing fingers at the socialist policies of Hugo Chávez and those of his successor, the incumbent Nicolás Maduro. This laying of the blame is not wrong, but it is incomplete. The kindest thing you could say about Mr. Chávez is that he was a talented demagogue who brilliantly identified his opportunity and judiciously seized his moment. But, as previously argued by Fred McMahon of the Fraser Institute, Chávez did not start Venezuela’s downward spiral ...

November 21 2017

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Cronyism Damaged Venezuela Before Chávez

Sami J. Karam

Editor’s Note: The following piece originally appeared at Populyst. It is reprinted here with permission. Venezuela is bankrupt, having just defaulted on three interest payments. And much of the world is pointing fingers at the socialist policies of Hugo Chávez and those of his successor, the incumbent Nicolás Maduro....

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