High Anxiety in the Andes: The Real Story Behind Venezuela's Woes

Abstract

The rise to power of Venezuelan president Hugo Chávez is often seen as evidence of an impending backlash against globalization, American-style capitalism, corruption, and poverty. Chávez's fiery antiglobalization rhetoric, his strong alliance with Fidel Castro, his outreach to Saddam Hussein and Muammar Ghaddafi, his anti-Americanism, and his sympathetic overtures to Colombia's guerrillas and other insurgent groups in Latin America have gained the world's attention. To many, the case of Venezuela epitomizes the popular reaction to a prolonged concentration of power among a small oligarchy of corrupt politicians and their business allies. To others, Venezuela is the victim of a mysterious syndrome afflicting the countries of the Andean region. Mostly, however, the situation in Venezuela is cited as an early-warning signal of a worldwide backlash against liberal democracy, market reforms, and globalization.