Thursday, March 7, 2013

Was Chavez bad for Venezuela?


Was Chavez bad for Venezuela?


In her article Megan McArdle writes that even though Hugo Chavez was a strongman he had very profound anti-democratic policies. She contends that his economic policies were very detrimental to Venezuelan’s future.

Even though Chavez's government made considerable developments in the education sector but the poverty rates have fallen.  One of the worst things he did to the Venezuelan economy.

This graph is from the The Economist.  Even though the economy doesn’t look too bad here but the growth is not great as it should be considering Venezuela is an oil producing company.


This article suggests that they're pumping less oil than they used to, hence Venezuela's oil output has fallen by almost a third since Chavez took power.  That's why Venezuelan economic growth is pretty underwhelming.  

This sums up that Chavez was not very good for Venezuela' economy. 

Article: http://www.thedailybeast.com/articles/2013/03/07/why-hugo-chavez-was-bad-for-venezuela.html

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