How much damage has "Hurricane Hugo" Chavez done to venuezuela?

Answer 1

Only time will tell.

[ It is sometimes asserted that Venezuela under President Hugo Chavez Frias (1999 to the
present) has been an economic failure, as compared with the past. For example, a recent
news article in the Washington Post referred to "Hugo Chavez, the populist Venezuelan
president whose giveaways to the poor have slowed economic progress." Such claims
are not supported by the evidence. From 1970-1998 per capita income in Venezuela fell
by 35 percent. This is the worst economic decline in the region and one of the worst in
the world -- much worse even than what happened to Africa during this period.

Since the present government took office, per capita income growth is about flat, and
will likely be positive at year's end. So the Chavez government can at least claim credit
for reversing the terrible long-term economic decline in Venezuela, according to the
standard reference sources on economic growth.

But there are other considerations. First, it would not be fair to hold the government
accountable for the loss of output due to opposition actions aimed at toppling the
government. The oil strike of 2002-2003 caused enormous damage; one might also
include the military coup and other de-stabilizing actions. If not for these efforts,
economic growth would almost certainly have been substantially higher and well above
the average for the region. But the first point, about reversing the country's long
economic decline, holds true even if one ignores the effect of opposition actions on the
economy. ]

Answer 2

At the moment, not too much. His policies won't have a direct impact for a long time. He's banking on the increase in oil prices to keep his social policies intact. If the U.S. or Europe starts using alternative energy and greatly decreases demand for oil, Oil prices will tumble and then in turn Chavez's main source of income will falter. He's going to ruin the country but for now he's fine. The poor especially think he's a saint because he's going to increase their standard of living but once the money runs out everybody in Venezuela will suffer. If it hasn't happened already, you're going to see a large exodus of the middle to upper class Venezuelans leaving the country to Europe and America. This will cause a huge brain drain and hurt the country even more.

Answer 3

Before Chavez, Venezuela was a corrupt country controlled by the military and the ultra-wealthy. He's leveled out the playing field by providing good education, economic opportunities and healthcare to the poor.

The US has been occupied with the Middle-East during much of the Chavez regime. We've paid little attention to our Latin neighbors. Europe, China and most of world has taken advantage of this and established strong relations with those emerging nations that are rich in natural resourses.

Chavez has done well by his country. However, he's a blowhard egomaniac. Too bad the US has lost most of it's influence in Latin America or he'd be a non-factor.

Answer 4

The long term damaging effect of his nationalization and socialist moves is incalculable. The long term effect will undoubtedly be the same as every other tin horn dictator who seizes power in Central and South America. The history lesson is never learned apparently.

Answer 5

Explanation of the first "answer"

The Center for Economic and Policy Research is a RIGHTWING THINK TANK, composed of big business Venezuelans, pro-Bush supporters and neoconservatives.

As with any information, always consider the source...

Answer 6

I dont know but alot of the people seem to like him down there ..... He is screwing up with this president for life thing

Answer 7

Who knows, let's just hope we don't do the same thing we did with saddam and Iraq and make it worse.

Answer 8

What damage?