Worst. Social policy. Ever!

Imagine a candidate who went to the country with this message: Compatriotas! When I am president, I will finally spread the oil wealth fairly. What I’ll do is, I’ll split the country up into four income brackets. To each of the richest 25% of households, I’m going to send a check for Bs.11,000 once a…

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…