Hugo Chavez's obituary read in classic chavista style, full of the adoration and myth that surrounded his fourteen years as leader of the Bolivarian Republic of Venezuela. With his passing, the future of the country is in questions.
Chavez left a deeply divided country. The Venezuelan economy is struggling and over-dependent on oil. Holding the largest oil reserves in the world, Venezuela's over-dependence on oil is both blessing and a curse. Oil allowed Chavez to build an enormous bureaucracy where the majority of the population works for the public sector. His successor will undoubtedly use the system Chavez created. Because in many ways, it works.
But what will change when Venezuela elects a new leader at the end of this month? Will its economic model shift away from socialism or remain a leader of the LatAm populist governments? If not, then it is likely that the resource-rich country will remain mired in inefficiency and waste.
