Venezuela fact of the day

You don’t say…

Part of it has to do that after soon nine years of chávez´s “socialist government† gas is sold at less than 12 US cents per gallon, less that its direct cost of distribution and with this about 10% of GDP is transferred from those who have nothing to those who buy gasoline. Annual gasoline subsidies amount to US$ 3.000 per car.

Perhaps this is evidence that Hugo Chavez believes a rising tides raises all boats? Just kidding. It is evidence that not only is the revolution for the poor a poor idea but they might be experiencing a crony-type environment.

A left wing leader who hasnt cured poverty, who would of ever thought that? I am a bit shocked because I always thought that one of the benefits of modern day left wing leaders is their penchant for dolling out dollars downward. At the very least you would of thought that all of this current short-run redistribution by Chavez would have eaten into the gini coefficient a small bit.

Alas for those of us who are highly skeptical about Hugo Chavez, but this information seems to be incorrect. I expect that most will find the UN Humand Development Report to be a fairly neutral source.

According to the 2006 UN Human Development Report, Venezuela’s Gini coefficient was 44.1. According to the 2001 UNHDR, it was 48.8. Thus, it seems to be going down.

http://hdr.undp.org/hdr2006/ (see page 336)

http://hdr.undp.org/reports/global/2001/en/ (see human development indicators, page 53)

To happyjuggler: you’re wrong in not caring about inequality.

Unequal societies function much better politically: they’re more stable and the way they’re setup virtually assures good governance. They’re also at a big advantage in a knowledge-based world economy, which is really not about the skill level of the average worker. Finally, on top, they’re comfy.

good satie very nice

“To happyjuggler: you’re wrong in not caring about inequality.

Unequal societies function much better politically: they’re more stable and the way they’re setup virtually assures good governance. They’re also at a big advantage in a knowledge-based world economy, which is really not about the skill level of the average worker. Finally, on top, they’re comfy.
”

Denmark has one of the lowest gini in the world. In Denmark we have lots of social capital (trust in each other). Virtually no corruption and stable society and workforce like none other place in the world.