Spoiled greens

SICAD has just been rolled out as a panacea for foreign currency scarcity in Venezuela. But if descriptions of the bureaucratic mess involved in obtaining dollars at auction are any indication, chances are SICAD won’t even begin to cover demand. Which is a crying shame because the alternative – the very illegal black market – is…

A Roadmap Out of Cadivi

A shorter version of this post appears in Foreign Policy’s Democracy Labs blog.  Say “macroeconomic adjustment” and Venezuelans immediately cast their minds back to 1989. That year, an IMF-inspired shock therapy program pushed through by President Carlos Andrés Pérez set-off serious rioting throughout the country, costing hundreds of lives and undermining governability for a generation…

Even the government hates government

Whether it’s fixing potholes or keeping our streets safe, pumping our oil safely or distributing its rents fairly, there is simply very little our government gets right. Like a reverse Midas, the government turns anything it touches into Lago de Valencia-style sewage. Just another tired wingnut rant? Check this news item out: a decree published Thursday…