Venezuela, a country destroyed by 25 years of populist failure

Highlights: Venezuela, a country destroyed by 25 years of populist failure. The "21st century socialism" that Hugo Chávez promoted as the modernized version of the Cuban dictatorship has become a ruinous autocracy for Venezuela. At the beginning of the revo Bolivarian lution, the minimum wage was equivalent to 348 dollars; Today it is reduced to four, and if it reaches 100 it is due to the dense network of public aid and bonds. The bolivar is a dead letter in the midst of the highest inflation in the world.

Chavismo turns 25 today, becoming the most palpable example of how populism corrodes democracy to the point of completely destroying the political, economic and...

UNDER REGISTRATION

Updated Friday, February 2, 2024-00:57

Chavismo turns 25 today, becoming the most palpable example of

how populism corrodes democracy to the point of completely destroying the political,

economic and social fabric of a country. The "21st century socialism" that Hugo Chávez promoted as the modernized version of the Cuban dictatorship has become a ruinous autocracy for Venezuela, with a detrimental influence on the entire Latin American left.

The figures we provide in our

Close-up

are overwhelming. At the beginning of the revo

Bolivarian lution, the minimum wage was equivalent to 348 dollars; Today it is reduced to four, and if it reaches 100 it is due to the dense network of public aid and bonds that forces citizens to depend totally on the State.

The bolivar is a dead letter in the midst of the highest inflation in the world

and after three monetary reconversions; GDP barely represents a third of that registered in 1999; crude oil production has collapsed from 3 million barrels a day to 749,000; and corruption as a form of government places Venezuela only behind Somalia. All this is even more serious if we take into account that, before Chávez, it was the fourth richest country in Latin America.

Economic bankruptcy is closely linked to the political gag. In Venezuela the rule of law has broken. The institutions have been colonized - Parliament and the Supreme Court are mere extensions of the Executive - and freedoms are repressed to the point that the opposition, de facto, does not exist.

The most recent example is the new disqualification of María Corina Machado

: The charismatic anti-Chavista leader will not be able to run in the presidential elections in which, according to polls, she was going to win over Nicolás Maduro. Chávez's heir has in fact reinforced the authoritarian features of the regime, including harassment of the press. What was the second free democracy in the region is today a black hole for human rights, with 157 political prisoners and torture as a common practice. Although perhaps the most expressive sign of the disaster is

the eight million Venezuelans who have left the country in the last decade

, an exodus greater than those caused by wars as bloody as the one in Syria.

In this context, the US has reactivated the sanctions that it had lifted against Caracas in exchange for its openness promises, among them, the holding of free elections with the participation of Machado. Meanwhile,

The Spanish Government irresponsibly insists on whitewashing the regime

, sponsoring the campaign in Europe to relax that punishment.

Valuable lessons can be drawn from the Venezuelan drama. These 25 years are proof that every political project, even if it declares the best intentions, must follow the rules of the Rule of Law.

Venezuela, a country destroyed by 25 years of populist failure

You may like

Trends 24h

Latest