June 13th, 2016 | By: Editorial Board
AT THE turn of the century, Peru was a struggling South American country with a poverty rate of 52 percent, while Venezuela was slightly richer, with 46 percent of the population rated poor. Today the difference between the two countries could hardly be more dramatic. After 17 years of Hugo Chávez’s autocratic populism, poverty in Venezuela has soared to 76 percent, according to a recent survey. Meanwhile, in Peru, it plunged to just 22.7 percent in 2014, and it is still falling.
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