The Destruction Of Venezuelan Institutionality

As Venezuela continues her circular descent down the toilet she can serve at least one useful purpose: as a warning to other countries the descent of which has begun but which has not progressed to a near-terminal stage. WIll they pay attention?

The Devil's Excrement

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Institutionality. Such an easy word. But so easy to destroy, so difficult to build up. And therein lies the biggest conundrum facing Venezuelans in the future, whether in a year (not likely), or five (probable) or even later (Can God be so mean to us?), we can attempt to rebuild what has been destroyed by Chavismo. Because it is easy to think anything will be better than this, but when you face an avalanche of crime or economic distortions, you need more than change, you need the required institutionality to create the appropriate culture at each institution, whether part of the Government or of the decentralized Government.

And that is the problem. The sad thing about the loss of institutionality at the Venezuelan Central Bank, is not the clowns at the top, it is the technical professionals that will be hardest to find when (and if!) things change. Because while…

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About danmillerinpanama

I was graduated from Yale University in 1963 with a B.A. in economics and from the University of Virginia School of law, where I was the notes editor of the Virginia Law Review in 1966. Following four years of active duty with the Army JAG Corps, with two tours in Korea, I entered private practice in Washington, D.C. specializing in communications law. I retired in 1996 to sail with my wife, Jeanie, on our sailboat Namaste to and in the Caribbean. In 2002, we settled in the Republic of Panama and live in a very rural area up in the mountains. I have contributed to Pajamas Media and Pajamas Tatler. In addition to my own blog, Dan Miller in Panama, I an an editor of Warsclerotic and contribute to China Daily Mail when I have something to write about North Korea.
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