The Five Horsemen of Venezuela's Socialism

In VenEconomy's June issue, Armando Gagliardi, a local economist, explains the differentiating factor between rich and poor societies. Gagliardi points out that one of the most useful indicators to get to know the well-being of a country is to get acquainted with the most feasible way and nature of the processes to enrich itself. He says that, as the so-called Bolivarian revolution deepens its political model, the Government of Venezuela is doing everything it can to make the legitimate forms of wealth creation unfeasible, while facilitating those that are illegitimate and destructive. Gagliardi claims that the country seems to be gradually falling into the hands of prison gang leaders, drug traffickers, the illegal resellers of staple goods known as "bachaqueros" and corrupt military officers, whereas businesspeople, academics and the general public are being increasingly marginalized. More…