Markets exist to distribute resources most efficiently. Rejection of them inevitably leads to huge, Soviet-style inefficiencies, all the way up to the violation of human nature itself. But in the end, markets, which chase out the inefficient in favor of the efficient, always triumph.

Francisco Toro has a fascinating little essay about the economic principle of creative destruction applied to the dictatorship of Venezuela’s Hugo Chavez, who in fact presents a vastly better technical model of how to be a political leader than his older opposition. It’s an intelligent and well-argued essay well worth reading here.