President Hugo Ch\u00e1vez was reelected on October 7, 2012 receiving a little bit more than 55% of the vote with a high voter turnout. This was a significant victory with a sizable margin although substantially smaller than Ch\u00e1vez\u2019s margin of victory in 2006. \u00a0The opposition candidate for president, Henrique Capriles Radonski received 44% of the vote, Capriles was reelected Governor of the populous stare of Miranda in December, one of the few governorships that the PSUV did not win. \u00a0 Hugo Ch\u00e1vez \u00a0has been dealing with a serious bout of cancer and received many \u00a0treatments in Cuba and \u00a0 \u00a0returned in late February, 2013 to Venezuela where his condition worsened and he died Tuesday afternoon, March 5th, 2013. It is a tragic loss for the people of Venezuela, for Latin America and the world. \u00a0Hugo Ch\u00e1vez was a great man. \u00a0Ch\u00e1vez totally connected with the popular classes of Venezuela through the programs he started such as the missions; by his love, respect for, and listening to the people; and by his voicing so powerfully their aspirations. His initiation of and support for the development of popular power and a participatory democracy showed his trust and respect for the popular classes. \u00a0Hugo Ch\u00e1vez was central to the process of the inclusion of the formerly excluded–to poor people becoming subjects of their history. \u00a0 \u00a0 \u00a0Hugo Ch\u00e1vez was an original and creative thinker and doer; someone who was constantly experimenting on how to create a just and equal and self-determining society. In 2005, he named it, \u201cSocialism for the \u00a0 21st Century\u201d\u2014a socialism whose center was ethical and cooperative human beings in a society organized to meet human needs. Equally important was Ch\u00e1vez\u2019s role of challenging U.S. global domination in the hemisphere and globally, and furthering Latin American solidarity. As I wrote before, Ch\u00e1vez was a nationalist, a Latin-Americanist and an internationalist. \u00a0 He made mistakes. He was too loyal to some of the people around him in Venezuela and perhaps too supportive of leaders around the world who challenged U.S. domination even if they were repressive in their own country. \u00a0He probably should have delegated more tasks and details to others, and should have made more of a priority the reduction of crime, the reduction of corruption and bureaucracy, and the development of the infrastructure of Venezuela. Still his accomplishments totally \u00a0outweighed his mistakes. \u00a0 Hugo Ch\u00e1vez profoundly and qualitatively changed \u00a0Venezuela and the world for the better like few individuals have ever done. \u00a0Because of Hugo Ch\u00e1vez , Venezuela is on a path where there is the real possibility of a society that is socialist and democratic, a participatory democracy and a participatory 21st century socialism . Millions and millions of people in Venezuela and around the world and I mourn him. \u00a0Hugo Ch\u00e1vez presente! \u00a0 New Elections Around the time of the October, 2012 \u00a0elections, Ch\u00e1vez who had already \u00a0named \u00a0Nicol\u00e1s Maduro as Vice-President \u00a0named him as his choice to be the next President of Venezuela as head of the United Socialist Party of Venezuela (PSUV). \u00a0Maduro, a former trade union leader was foreign minister in the Ch\u00e1vez administration from 2006 to 2012. He has been acting president the last few months, and now is the temporary President. According to the 1999 Venezuelan constitution, Maduro \u00a0must call an election within the next 30 days, by April 4, 2013. He has already stated his intention to do so. \u00a0 In recent polls, Maduro seems comfortably ahead of the most likely opposition candidate, Henrique Capriles Radonski. \u00a0Although Venezuelan polls are notoriously inaccurate, my guess is that Maduro will be elected President in the next month and that that there will be no major changes in Venezuelan policies or the Venezuelan model, domestically and \u00a0internationally. \u00a0Nicol\u00e1s Maduro, a former trade union leader, \u00a0 has been Venezuela\u2019s foreign minister from 2006-2012 and has been a strong supporter of Ch\u00e1vez \u2019s policies and ideology and politics. Although Maduro does not have the charisma of Ch\u00e1vez nor the intense love by the Venezuelan people, Ch\u00e1vez\u2019s designation of Maduro as his desired successor carries a lot of weight with those who supported Ch\u00e1vez. Hopefully, the population will get more involved in building popular power as they understand they no longer have Ch\u00e1vez to solve their problems. \u00a0 \u00a0 \u00a0 Update on the Venezuelan Economy In 2012, the GDP grew by 5.5% a significant improvement from \u00a02009-2011 although still lower than the annual growth from 2003-2008. The minimum wage went up by 32% in 2012 significantly more than the inflation rate of 20%. Inflation continues to be high but is not accelerating and was slightly lower in 2012 than in 2011. \u00a0The official unemployment rate in 2012 was 6% and there continues to be a slow but steady increase in the proportion of the labor force that is in the official labor market, 58% of the total labor force. \u00a0(Venezuela Analysis, www.venezuelanalysis.com Ewan Robertson, March 1, 2013) \u00a0 The official rate for the Bolivar was devalued on February 8, 2013 from 4.3 to the dollar to 6.3 to the dollar. This was probably necessary as the higher rate of inflation in Venezuela compared to the United States means that their currency is constantly becoming overvalued. This will only end if inflation rates converge. \u00a0There is also a black market rate for the Bolivar but it has fallen since the devaluation; it is currently about 9.25 to the dollar. Although the government is trying to limit the rise of prices caused by the devaluation of the Bolivar, inflation is likely to increase on imported goods as they become more expensive. \u00a0Because of the devaluation, prices of necessities like food will rise more than they would have otherwise. \u00a0So, it is important that the income of low income people be protected so they can pay for these higher prices.<\/p>\n","protected":false},"excerpt":{"rendered":"
President Hugo Ch\u00e1vez was reelected on October 7, 2012 receiving a little bit more than 55% of the vote with a high voter turnout. This was a significant victory with a sizable margin although substantially smaller than Ch\u00e1vez\u2019s margin of victory in 2006. \u00a0The opposition candidate for president, Henrique Capriles Radonski received 44% of the … Continue reading Hugo Ch\u00e1vez Presente!<\/span>