If you consider the most meaningful measure of a country’s economic output — GDP per capita over time — you’ll see that the fat years under Chávez did not actually happen. In fact, if you chart that real (inflation-adjusted) GDP per capita by year, you’ll see that Venezuela is significantly poorer today than it was in the 1960s, 1970s, or 1980s. In fact, Venezuela’s per capita GDP reached its all-time low in 2003, under Chávez. This is no surprise: Making well-off countries poor and poor countries starving is what socialists do.
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