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The sudden capture of Nicolás Maduro has thrown open a once-in-a-generation chance to rescue Venezuela from tyranny and economic collapse, but opportunity without a plan is wasted. Secretary of State Marco Rubio must move fast and boldly to shape a transition that favors liberty, rule of law, and market-driven recovery rather than give space to international bureaucrats or corrupt insiders.
Steve Forbes got it right when he warned against inviting the IMF to Caracas; that would be economic malpractice dressed up as expertise. The IMF’s playbook of conditional austerity, currency tinkering, and top-down prescriptions has a long record of killing growth and handing governments political cover to avoid real reform. Rubio should instead champion policies that restore confidence and investment without surrendering Venezuela’s economic sovereignty.
First among practical moves should be rapid dollarization to stop hyperinflation and stabilize commerce, something Forbes notes as a proven cure in Latin America. Replacing the worthless bolivar with the dollar would immediately anchor prices, rebuild trust in contracts, and make Venezuela a safer place for savings and investment. Conservatives understand that sound money is the foundation of freedom and prosperity; this is not the time for experiments in printing presses.
Tax policy must be simple, low, and predictable — a flat or very low-rate system modeled on successful small-government economies. High, progressive tax schemes and complex codes only enrich lobbyists and strangle entrepreneurs; the new Venezuelan government must instead offer clear incentives to rebuild industry, reinvigorate oil production, and attract global capital. Rubio should use every diplomatic lever to promote a tax regime that rewards work, risk, and investment.
Deregulation and a ruthless trimming of red tape are equally urgent; Venezuela must make it easier, not harder, to start a business. Cutting licensing requirements, slashing fees, and rooting out corruption will unleash a wave of small and medium enterprises that can employ millions and diversify the economy beyond oil. Conservative governance means trusting people to create wealth when freed from the chokehold of the state.
Oil wealth should be treated as a national trust and managed transparently through a sovereign-style fund modeled on Alaska’s successful approach, with eventual dividends to citizens. Turning Venezuela’s hydrocarbon bounty into a long-term asset rather than short-term patronage will bind ordinary Venezuelans to the health of the nation and reduce temptations for kleptocrats to pillage resources. Private sector efficiency, American partnership, and strict oversight should be central to any plan for the petroleum sector.
There must be no return to protectionist or mercantilist nostrums that got Venezuela into this mess; tariffs and industrial policy directed by cronies only recreate the same failures. Open markets, strong property rights, and rule-bound trade will attract the capital and technology that Venezuelans desperately need. Rubio should press for a legal environment that punishes corruption, enforces contracts, and invites honest foreign investment without political strings attached.
Finally, Rubio must balance assertive American leadership with respect for Venezuelan self-determination: coordinate a clear transition timetable, secure elections, and use U.S. leverage to protect institutions while avoiding indefinite occupation. He has the diplomatic tools and the moral imperative to press for accountability — ensuring Maduro faces justice while a new government adopts pro-growth reforms. Time is short; hesitation hands the reins back to the same tyrants and cartels that ruined Venezuela.
If conservatives seize this moment with firm policy prescriptions — sound money, low taxes, open markets, anti-corruption reforms, and prudent stewardship of oil revenues — Venezuela can be reborn as a prosperous, free nation. The world needs a clear American strategy that champions liberty and economic empowerment rather than muddled internationalist solutions. Rubio should act now, decisively and unapologetically, to turn liberation into lasting prosperity.
