Dubbing Chavez's government "hypercorrupt," Coronel identifies four main reasons for the nation's rapid decline to the bottom of global corruption and economic freedom indices. Misused oil income, mediocre management, Chavez's determination to play a "messianic" role in world affairs, and political populism designed to garner the affection of the people rather than promote the creation of new wealth have also contributed to the rise of graft.
Coronel classifies Venezuelan corruption into three categories -- grand corruption, bureaucratic corruption and systemic corruption -- and details disturbing examples of graft, incompetence and flagrant disregard for both the rule of law and the welfare of Venezuelans. For example, the operations of at least two state-run financial institutions are completely opaque and the institutions spend funds at the discretion of Chavez alone. The management of national funds is done in secrecy and without accountability to the people.
One of those benefiting from Chavez's corruption while the people of Vnezuela suffer, is none other than London's mayor, Red Ken Livingstone.
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