Michael A. MacDowell

Nota: Este archivo abarca los artículos publicados por el autor desde el 1 de Septiembre de 2008. Para fechas anteriores realice una búsqueda entrecomillando su nombre.

Shoppers in Venezuela must wait in line for hours outside stores to find basic consumer goods like sugar and detergent. Fernando Llano AP

It’s debatable whether it was Einstein, Ben Franklin, Mark Twain or none of them who said that the definition of insanity is doing the same thing over and over again and expecting a different outcome. What isn’t debatable is the validity of the statement. Individuals, institutions and countries should learn from past mistakes, but they don’t.

Take Venezuela. When Hugo Chávez, the self-styled democratic socialist, was elected president of Venezuela in 1999, the country was wealthy, possessing immense proven oil reserves. However, that source of wealth and others in Venezuela were predominantly in the hands of an intransigent upper class and corrupt politicians.…  Seguir leyendo »