Today (March 5h) – on the 60 year anniversary of Stalin’s death – Venezuelan president Hugo Chavez passed away.
I think Chavez’s economic legacy can be pretty well-illustrated by two graphs comparing Venezuela’s economic performance from 1999 when Chavez became president with three ‘neo-liberal’ Latin American countries – Chile, Peru and Columbia.
We start out with the real GDP level (Index 1999 = 100)
And next the price level (GDP deflator, Index 1999 = 100)
I leave it to my readers to judge whether Hugo Chavez’s death is a positive or a negative shock to the the Venezuela’s economy.
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Hugo Chavez é o Hitler latino. Como a versão latina de qualquer coisa, é pior. Hitler tinha um visual interessante, Chavez é gordo e mal vestido. Hitler criou Autobahns, Chavez lotou as estradas com gasolina barata. Hitler fez acordo com Stalin- um...
Chávez’s Grim Legacy
By
Juan Carlos Hidalgo
This article appeared in the New York Post on March 6, 2013.
Hugo Chavez’s legacy of economic nationalism and authoritarian rule will haunt Venezuela and its neighbors for years to come....
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