In fawning over the deceased president of Venezuela, Hugo Chavez, Farah Stockman uses ultra-left blame-America-first rhetoric to mask the oncoming disaster created by Chavez (“Politics of oil in Venezuela,” Op-ed, March 12). Chavez has placated the poor by illegally seizing control of Venezuela’s natural, economic, and monetary resources and diverting from long-term productivity and economic growth to short-term programs that continued his dictatorship.
The best analogy would be sawing down parts of your home for use in your wood-burning stove in order to keep warm. The supply diminishes while the demand increases to a point of no return.
Because of expropriation, Venezuela is experiencing shortages of food and other consumer goods, diminishing oil production, a loss of democracy, and the threat of collapse.
Meanwhile, those close to Chavez have accumulated vast personal wealth.
Some approve this because it occurs in the name of socialism, but this reveals an idealistic bias that ignores practical results by blasting the capitalists that preceded Chavez.
Did we learn nothing from the ills of the former Soviet Union?