Estonia is an inconvenient neighbor for another reason. It’s an uncomfortable reminder to Russians of what could have been. Today, the typical Estonian earns nearly 40 percent more than the typical Russian.
Matthew D. Mitchell
Matthew D. Mitchell is a senior fellow with the Fraser Institute, a senior research fellow with the Knee Center at West Virginia University and an affiliated senior scholar with the Mercatus Center at George Mason University.
Statism: How Latin America’s Wealthiest Country, Venezuela, Fell So Far
In 1970, Venezuelans were the wealthiest people in Latin America. With annual incomes comparable to those of the Finns and the Japanese, they earned two-and-a-half times what the typical Latin American earned. Their wealth bought them a longer life, lower infant mortality, and some measure of safety. Today, as the United Socialist Party’s Nicolás Maduro tries to steal another term as president, it is a different story.
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