No idea is too discredited to revive...: "For years now the government has been yabbering on about something called 'endogenous development' and the whole time I've been scratching my head wondering what the hell that actually means. The Chavez propaganda efforts in this regard hardly clear things up: they're a lot clearer on what 'endogenous development' is not than on what it is.
At least I took solace from one of the bullet-points: 'Endogenous development is not an import-substitution model.' Except, then, I read this Bloomberg piece, and realized that when they say 'endogenous development is not an import-substitution model' what they really mean - and it takes superior hermeneutic skills to crack this one - is 'endogenous development is an import-substitution model.'
Venezuela to Spend $3.25 Bln on 11 State Industries
Jan. 30 (Bloomberg) -- Venezuelan President Hugo Chavez plans to spend $3.25 billion to create 11 state companies that will produce goods ranging from cotton to steel, part of an effort to create jobs and reduce imports.
The businesses will include a new state steel mill, an aluminum-laminating company and ventures in cotton, iron ore, mining, cement and paper pulp, Chavez said in a three-hour televised address in Caracas. Chavez said the companies will create jobs while furthering the South American country's socialist r"