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Venezuela bondholders inch toward showdown

Monday, April 3, 2017

How Does Populism Turn Authoritarian? Venezuela Is a Case in Point

When Hugo Chávez took power in Venezuela nearly 20 years ago, the leftist populism he championed was supposed to save democracy. Instead, it has led to democracy’s implosion in the country, marked this past week by an attack on the independence of its Legislature. Venezuela’s fate stands as a warning: Populism is a path that, at its outset, can look and feel democratic. But, followed to its logical conclusion, it can lead to democratic backsliding or even outright authoritarianism. More…

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