The whole thing is worth reading. With
help from a good interviewer, Cardiff Garcia, Hausmann, an economics professor
at Harvard's Kennedy School, gives a good narrative about the changes in
economic policy that took Venezuela from being one of the economic jewels of
South America to being arguably, if the numbers are adjusted for reality, one
of the poorest countries in South America. Short summary of economic policy:
price controls, profligate government spending, and expropriations with the
attendant disrespect for property rights. Short summary of political strategy:
Chavez overthrows Venezuela's constraints on presidential power and he and his
successor jail political opponents and critics. More…
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