Economic and social consequences of left populist rule in Venezuela in the first decades of the XXI century

Abstract

Th e purpose of the article is to determine the economic and social consequences of the rule of left populists in Venezuela in the fi rst decades of the ХХІ century. Th e research methodology is based on the principles of historicism, objectivity, integrity, and systematics. Th e methods of analysis and synthesis, generalization, comparison are used in the work. Th e scientifi c novelty lies in the fact that the features of the economic and social policy of the rul- ing circles of Venezuela over the past twenty years were investigated. It was found that despite the loud statements of the authorities about overcoming poverty, social inequality, corruption, and scarcity, all these phenomena did not disappear, but in most cases, it was the bad policy of the populists that led to the aggravation of the mentioned problems. Conclusions. As a result of the research, it became clear that another experiment aimed at building an “ideal society” in Venezuela turned into a complete failure. In one of the world’s richest countries in oil resources, there is a shortage of products, essential goods, and medicines. At the same time, instead of social harmony in the country, there is a signifi cant increase in crime and degradation of public consciousness, which is characterized by the perception of murders and robberies as common el- ements of everyday life. In world history, there were many examples when the ruling circles of the country, in extreme manifestations of populism, began to set maximum prices for food and basic necessities. Always and everywhere, these measures led to the same result – the disappearance of goods from sale and the formation of a “black market”. At the same time, these diffi culties of an economic nature brought unexpected bonuses and advantage to the ruling elite. Th e search for internal and external enemies began, and an ideological campaign was launched, directed against representatives of medium and small businesses, who actually were the producers of the goods the country needed. Th e government, which led to an economic crisis and a shortage of products, declared itself the only savior of the people. Such a picture is observed in modern Venezuela, where offi cial propaganda, despite the obvious miscalculations of the government, considers Hugo Chavez and Nicolas Maduro to be the “saviors of the nation”.