In short, Venezuela was well on its way to breaking the mold of most South American countries: It was prospering, had a vibrant democracy, and though problems existed, it was heading in the right direction.
But Chavez would change his country’s trajectory. Or, more to the point, his socialist policies would.
He was swept into power by citizens who had been duped by his promises of free health care for all, which — in 1999 — he had written into the Constitution: “Health is a fundamental social right, an obligation of the State,” Fox News notes.
He also promised more equity and ‘fairness’ when it come to wealth as a way to “overcome poverty.” He mandated higher wages (like mandating a higher minimum wage), and while initially he made some progress in reducing poverty and expanding healthcare, the rules and realities of socialist economics soon set in.
Experts noted that Chavez’s reforms were based on his country’s existing wealth, not on creating new wealth.
“He took from the private sector that existed, and enjoyed buoyant oil prices, to buy off the electorate,” Fergus Hodgson, executive editor of Antigua Report, a Latin American business consulting agency, told Fox News.
“This strategy was great in the short term, but it crushed investment and new businesses. Predictably, when economic activity and oil prices went south, he resorted to printing money, and we all know what has happened.”
By last year the country’s healthcare system was in shambles. Basic supplies and medicines were scarce if they existed at all. Hospitals fell into disrepair. Venezuelans suffered and died. Medical staff, especially highly educated doctors and nurses, fled the country for better opportunities.
And the economy is also a disaster. Food is also scarce; Venezuelans, on average, have lost 24 pounds over the past few years. Video of a group of hungry citizens surrounding and killing a...
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