Caracas Chronicles

There’s a certain tendency among conservatives to see the macroeconomic chaos Venezuela is experiencing as the inevitable result of radical leftist government. But this must be one of the easier fallacies to refute: Latin America is peppered with radical leftist governments that are chipping away at democracy in a context of macroeconomic order and growing prosperity.

Prof. Briceño sees it clearly:

Venezuela isn’t just an outlier in Latin America. It isn’t just an outlier in the Latin American left. It’s an outlier in the Latin American radical left! The country’s economy hasn’t gone insane because the people who run it are leftists, it’s gone insane because the people who run it are mamarrachos.