Venezuela's Hugo Chavez dies at 58
Posted 07 March 2013 - 06:48 PM
At least he got free healthcare.
Posted 07 March 2013 - 09:18 PM
"The results of the Chavez government's economic policies have been a 50% drop in poverty rate, from 49% of the households in early 1998 to 24% in 2009. Similarly, the extreme poverty rate dropped more than two-thirds, from 21% of households in 1998 to 6% in 2009. Whiles most of this drop in poverty is attributable to social policies that benefit the poor, much of is also traceable to dramatic drop in unemployment, which feel by nearly fall, from around 14.5% in early 1999 to about 7% in late 2010. Some countries that pursue neo-liberal economic policies have also achieved lower poverty rates, but usually at the expense of greater inequality. In Venezuela, though, inequality, as measure by the "Gini coefficient" dropped from 0.49 in 1998 to 0.39 in 2010, one of the lowest levels in Latin America."
An assesment of Venezuela's Bolivarian Revolution at Twelve Years (via foucaulthehater)
Most governments in South America showed those reductions in poverty. The difference is Venezuela now has the least diversified economy in the world, with about 95% of their GDP coming from oil exports.
If Alberta shut down all other industries and tripled their oil production, they'd look exactly like Venezuela now. Not a good situation economically or environmentally.