Red with envy

Hugo Chávez likes to boast that he is some sort of innovator when it comes to social policies and that the opposition has no answers. Never mind that his vaunted misiones, a half-baked hodgepodge of cash handouts, Cuban assistance and supply subsidies, have long ceased being effective. He has created his myth, and doggone it, he’s…

Leadership on the Gas Subsidy

Here’s a fun question to ponder: how much do Gasoline Subsidies really cost Venezuela? Everybody knows the answer, right? With gas fetching just a few US cents a gallon, it’s a no-brainer: “a lot!” Sure, but is that “a lot” like $6 billion a year, or “a lot” like $26 billion? A quick Google search turns…