Summary
Ruud ten Hoedt
Hugo Chavez en het economisch autisme in Latijns-Amerika
Ruud ten Hoedt surveys economic and political developments in Latin America, in particular Venezuela where President Hugo Chavez is the most influential opponent of globalization in Latin America. His stance against the United States as the icon of globalizing capitalism attracts other leaders and popular movements in the region. Chavez is capitalizing on the disappointment over continuing poverty. In his own country he succeeded in transforming the frustration with corruption and mismanagement of the oil wealth into support for his 'Socialism of the 21st Century'. However, his claim that poverty and inequality are the result of liberalization is unfounded. Market reform in Venezuela was incomplete and short-lived. The same goes for the rest of the continent. Chavez is gaining support specifically in those countries where populism is stubborn and the lack of reforms has led to instability and the rise of nationalism and anti-capitalism. Part of Latin America seems to be deaf and blind for market driven growth and poverty reduction elsewhere. Support of reform-minded countries and advocates of liberalization are more than ever called for.