Democracy Still Alive and Well in Venezuela

[leftchick]

http://alternet.org/audits/69041/

On December 2 Venezuelans will vote on a number of amendments to their constitution, and if you have heard anything about this it will likely be grim news. The major media generally abandons quaint notions of balance and objectivity when reporting on Venezuela. Oddly, this post-modern philosophy often extends to left-of-center newspapers who do not normally follow the Bush administration's lead when reporting on other oil states where regime change is sought (Iran) or in process (Iraq).

The biggest fuss this time seems to be the amendment that would abolish term limits for the presidency. Perhaps it is because I am from Chicago, and had only one mayor from the time I was born until I graduated college, that I am unable to see this as the making of a dictatorship. Not to mention that if Hilary Clinton is elected next year, we will have Bushes and Clintons as heads of state for a full consecutive 24years, and possibly 28.

President Lula da Silva of Brazil defended Venezuela last week, asking why "people did not complain when Margaret Thatcher spent so many years in power." He added: "You can invent anything you want to criticize Chavez, but not for lack of democracy." Lula has repeatedly defended Venezuela's government as democratic, but these comments are never reported in the English language media.

Chavez is also castigated for proposing to get rid of the independence of the Central Bank, which is inscribed in the 1999 constitution. This is portrayed as just another "power grab." However, there are sound economic reasons for this amendment. Central Banks that are not accountable to their elected governments are not altogether "independent" but tend to represent the interests of the financial sector. In the tradeoff between growth and employment versus inflation, the financial sector will always opt for lower inflation, even if it means stagnation and unemployment.

The increasing independence of central banks, and the resultant overly-tight monetary policy is very likely one of the main reasons for the unprecedented long-term growth failure in Latin America over the last quarter-century.

[Benhurst]

1. Too bad the same can't be said about the United States.

[leftchick]

4. indeed it is the most ironic part

:(

[Egalitariat]

2. Hopefully CNN won't carry out their assassination plans on Chavez***

nm

[LakeSamish706]

3. And no one seems to mention the good things that Chavez has brought to...

Venezuela with respect to the very poor citizens of the country! As I understand it, Chavez was instrumental in producing a Constitution in the country in the first place!