The economic Rasputin behind Venezuela’s collapse

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Alfredo Serrano Mancilla

On this website we’ve covered the ongoing and ever worsening nightmare that is chavismo frequently and from a number of angles. One name we’ve failed to mention so far, however, is that of Alfredo Serrano Mancilla, who was described recently as “the man behind Venezuela’s economic mess” – not exactly the most coveted label of our time. The Venezuelan newspaper El Nacional said that it’s “entirely” thanks to Serrano that the nation “continues to insist on the economic models of socialism in the 21st century, despite the queues, shortages, and inflation.”

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José Guerra

Who is Serrano? A native Spaniard, he studied economics in Barcelona and Quebec, then relocated to Latin America along with several other anti-capitalist economists in search of the opportunity of putting their theories into action. According to the Wall Street Journal, they were soon “advising leftist leaders in Bolivia and Ecuador on economics, setting up social programs and the drafting of new constitutions.” José Guerra, an opposition legislator and economist, told the Journal that “Serrano is a typical European leftist who came to Latin America to experiment with things no one wants at home: state domination, price controls and fixed exchange rates.” In 2014, Serrano “established a think tank in Ecuador called the Latin American Strategic Center of Geopolitic.” (Although its think tank identifies him as “a professor at eight universities across Spain and Latin America,” the Journal managed to establish that he was not on the staff of any of them.) He also reportedly holds the title of coordinator at a Spain-based group called the Center for Political and Social Studies (CEPS).

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Hugo Chávez

His contribution to the trainwreck of Venezuela began relatively recently. In his 2014 book, The Economic Thought of Hugo Chávez, he lavished praise upon the late president’s social and economic planning. His view, as summed up by the PanAm Post, is that “the socialist economic model of the 21st century is unquestionable, and that any failure is the result of attacks from the opposition.” Pause to contemplate that one for a minute: in 2014, by which time the writing was already on the wall for the Venezuelan economy, this guy – a professional economic consultant – was prepared to get up and say that the solution to the country’s problems lay not in changing course but in doubling down. It was beyond idiotic – but it impressed Venezuela’s president, Nicolás Maduro, himself an idiot, who has called Serrano “a man of great courage” and “a very intelligent, very qualified man who’s building new concepts for a new economy of the 21st century.” He’s even dubbed Serrano “the Jesus Christ of the economy.”

Venezuelan acting President Nicolas Maduro raises his fist during a campaign rally in San Carlos, Cojedes State, on April 4, 2013. The presidential campaign to replace Venezuela's Hugo Chavez formally kicked off Tuesday, with Maduro -- Chavez's hand-picked successor -- battling opposition leader Henrique Capriles for the forthcoming April 14 vote. AFP PHOTO / JUAN BARRETOJUAN BARRETO/AFP/Getty Images
Nicolás Maduro

Next thing you knew, Maduro was slavishly following every last one of Serrano’s aggressively radical prescriptions. Among them: the government expropriation of private property and seizure of private businesses, the promotion of “urban agriculture” on people’s apartment balconies, the inauguration of a Soviet-style system for supplying goods to consumers, and the Maoist-style practice of forcing city residents to work on state-owned farms.

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Grigori Rasputin in 1916

In addition to formulating all these suicidal policies, Serrano wrote speeches for Maduro in which the president vigorously defended them and refused to let humanitarian aid into the country (a position apparently rooted in a good old Stalinist-style desire to “hide the crisis” from the outside world). And while Maduro has followed this Rasputin’s advice, he’s utterly ignored other insiders who’ve urged him to undertake more conventional, market-friendly reforms to halt economic collapse. We can only hope that when Venezuelans finally do take their country back, Serrano – along with Maduro – will get the payback he deserves. Unfortunately, like so many other Western socialists who love enjoying their own prosperity and privilege as much as they love engineering other people’s poverty, he’ll probably get away with his destruction, beating a hasty retreat back to Spain, where he can continue to spread his terrible ideas in academic books and university lecture halls.

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