Mary O’Grady poses the question, If Chávez believes the nation’s oil billions belong to the people, why not give it to them directly?
Mr. Monaldi, along with Venezuelan economists Pedro Rodríguez and José Morales, have a better idea. In a paper published in September by the Center for Global Development, they propose offering Venezuelans a plan to replace many of the government’s social programs and subsidies funded by oil revenue with direct, “universal, transparent and regular payments” to citizens.
The authors argue that this “direct distribution mechanism” (DDM) would be a more equitable way to distribute the wealth from the country’s vast oil reserves, and it would make Venezuelans better off. Marketing the idea to the electorate may be one of the few cards the political opposition has left to play.
Ah, but Hugo’ been giving “regular payments” to the Chavistas, the Cubans, and his other cronies in Latin America.
Meanwhile, in the USA, we’ll be debating Fair vs Fracking for the next 4 years.