Thursday, March 07, 2013

Mistakes Chavez Made - Wasted money on Social Programmes!

"Chavez wasted his money on 
social programmes when he should 
have built vanity projects!"

The Skewed priorities of the business press,



In a story headlined "Little Reaction In Oil Market To Chavez Death", Pamela Sampson, a business reporter for the Associated Press, offers her take on the legacy of the Venezuelan president:
Chavez invested Venezuela's oil wealth into social programs including state-run food markets, cash benefits for poor families, free health clinics and education programs. But those gains were meager compared with the spectacular construction projects that oil riches spurred in glittering Middle Eastern cities, including the world's tallest building in Dubai and plans for branches of the Louvre and Guggenheim museums in Abu Dhabi.
Fair's Jim Naureck, who pointed out the bizarre angle, has this to say:
That's right: Chavez squandered his nation's oil money on healthcare, education and nutrition when he could have been building the world's tallest building or his own branch of the Louvre. What kind of monster has priorities like that?
Going through the coverage of Chavez's death, one of the starkest things to my eyes is how few people have been prepared to admit that they didn't like him simply because he was a Marxist. Even the right-wing press chooses to attack him on whether his massive social programs, up to and including nationalisation of the country's oil stock, worked, and on the extent of his commitment to liberal democracy. It seems likely that in earlier years they would have just taken it for granted that he was on the far left and therefore bad.
Of course, at times, those attacks fall flat. Regardless of the efficacy of Chavez's social programs—and it remains to be seen how their long-term effect compares to the increase in living standards other Latin American countries saw from simple growth alone—they were probably better for the Venezuelan poor than building the Petronas Twin Towers was for poor people in Malaysia.

1 comment:

Azli Jamil said...

If you cannot see the value of Petronas Twin Towers and the symbolism and benefits, I'm sad.

By the way, a university education that is paid with own money is better especially in a country full of subsidies like Malaysia.

Normal distribution curve applies to the brain too. I would rather have a country with less university graduates than s country with too many half baked university graduates with such holier than thou attitude.
Seriously, Gen Y is scary!!!