Wednesday, August 22, 2007

Chavez's Growing Inequality Gap

By at least one measure, things aren't looking so good in Caracas:

Despite Chavez's "revolution for the poor" the Gini coefficient has increased from 0.44 in 2000 to 0.48 in 2005.
A commenter there piles on:

Part of it has to do that after soon nine years of chávez´s “socialist government” gas is sold at less than 12 US cents per gallon, less that its direct cost of distribution and with this about 10% of GDP is transferred from those who have nothing to those who buy gasoline. Annual gasoline subsidies amount to US$ 3.000 per car.
(ht: Marginal Revolution)

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