In the past month, Venezuelan President Hugo Chávez has announced the nationalization of his country’s electricity and telecommunication industries, seized control of the central bank, barred the renewal of the license of the nation’s oldest independent television station, and assumed the power to rule by presidential decree. But as Chávez consolidates his economic and political power and Venezuela hurtles down the road toward Cuban-style socialism, he continues to lack a viable strategy for development, as Michael Shifter reminded Foreign Affairs readers last summer. Washington can thus best confront him indirectly in the realm of ideas — and ultimately prevail.
