Why democracy remains central to Venezuela’s future

Professor Andrés Velasco, Dean of the School of Public Policy, has published a new commentary in Project Syndicate titled “Give Democracy a Chance in Venezuela,” offering a timely reflection on the country’s political trajectory and the conditions needed for long term stability and recovery.

In the piece, Professor Velasco challenges the assumption that stability can be secured by accommodating authoritarian rule. Instead, he argues that Venezuela’s economic recovery and lasting peace are closely tied to the restoration of credible democratic institutions and political legitimacy. Drawing on historical comparisons and political economy analysis, he cautions against misleading analogies that frame Venezuela’s situation through the lens of other conflict affected states, highlighting the country’s distinct democratic history and institutional foundations.

The article also explores the role of leadership, state capacity and institutional trust in shaping both domestic stability and international investment. By emphasising Venezuela’s professional class, democratic tradition and global diaspora, Professor Velasco points to the underlying conditions that could support institutional rebuilding and renewed prosperity.

Contributing to wider debates on governance and international policy, the commentary underscores a central argument that sustainable stability is not achieved by entrenching authoritarianism, but by enabling democratic renewal and credible political transition.

Read the full article on Project Syndicate!