Cox & Forkum
There is a dramatic tragedy playing out in Venezuela, the early acts forecasting in dread what the denouement will be. You have to feel great sorrow for the people of Venezuela, bamboozled and exploited by Hugo Chavez, leftist populist quickly turned dictator. Chavez’ extravagances in politics and diplomacy have not dimmed his luster, but his economic blunders likely will. Chavez will bring himself down in the end, but it will take his country years to recover. Economist Richard Rahn’s article on the fate in store for Chavez and Venezuela is definitely worth a read. (The estimable Dr. Rahn is, among other things, an adjunct fellow of Discovery Institute.)
The follow-up question, however, is what will follow Chavez? The very question calls to mind the current death watch for Fidel Castro. The end is clear in Cuba, too—although in very different ways--but we are not seeing nearly enough informed analysis of what comes next in either country. What transpires when Castro is gone at last? And Chavez? Does America have a plan on how to contribute to a happier future for these countries?