So Hugo Chavez, you look at Venezuela's history in 1950, where do you think Venezuela ranked in terms of GDP per capita? I gotta assume it was not that high. It was number four in the world. Really. In 1950, the top four countries for GDP per capita were the United States, Switzerland, New Zealand and Venezuela. Venezuela. That's because of gold and oil. Right, Gold and oil, enormous natural resources. It was an incredibly booming economy. But then what happened is Hugo Chavez, a communist, came into power and just utterly destroyed the economy there. (17:57–18:08)
CLAIM
Asserts that Venezuela was among the top four countries for GDP per capita in 1950.
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