Investing in Venezuela's Future

Venezuela's Hugo Chávez, much like American President Barack Obama, believes in "sharing wealth." As a means of satisfying "human needs ... equally [and] without privilege," Chávez adheres to "the fundamental goal of socialism." If a person has what is considered excess, Hugo looks for creative ways to divide and redistribute the possessions of the one fairly among the many. Hugo's form of social impartiality assures the nation's poor that the government is the provider of every earthly need. Venezuela's government "subsidize[s] food to low-income families, redistribute[s] land and wealth, and pour[s] money from [a] booming oil industry into health and education programs."   One area where Chávez's pervasive redistributive efforts have failed is in the provision of shelter for Venezuela's poor.  The Chávez government has built "fewer than 40,000 units a year - some say only 24,000 - in contrast to...(Read Full Post)