Hugo Chavez’s Failed Socialist Experiment Is Deadlier Than Ever

“Once in power, Chávez was nonstop action. He nationalized companies by the dozen, imposed controls on currency transactions, and set limits on the interest rates and prices businesses could charge. He purged the upper ranks of the state-run oil giant—the untouchable goose that laid the golden egg—and then had the company divert precious resources away from energy fields and into socialist-style manufacturing co-ops and other boondoggles.”