[Marxism] Venezuela: oil royalties versus capital flight:

Mike Friedman mikedf at mail.amnh.org
Sat Aug 21 17:06:40 MDT 2004

This is the sort of conclusion a pure economic determinist, a technocrat, 
not a Marxist, would reach. Venezuela isn't a "rentier state," but a source 
of raw materials for imperialism. And the point isn't the source of the 
value being redistributed in Venezuela by Hugo Chavez, but the political 
transformation that occurs as a colonized nation challenges imperialist 
hegemony AND laboring classes challenge the oligarchic hold on state and 
economy. It don't mean shit that now they're capturing a bigger piece of 
the pie. To see Venezuela's true insertion in the world economy, do a 
little thought experiment: pretend that the world market price of oil 
falls, as it did with sugar in the case of Cuba. Venezuela gets fucked. 
But, does this mean that redistribution and the political process stops?

At 02:01 PM 8/19/2004, you wrote:
>Yes but it still seems to me that the rent that Chavez is
>appropriating is a pure value transfer from the world working class.
>A populist revolution built on the appropriations of a rentier state
>is not generalizable to the rest of the world.

More information about the Marxism mailing list