The referendum defeat in Venezuela: A warning to the working class
The vote represented the first electoral defeat suffered by Chavez since he came to office in 1998 on a program of left nationalism and increased social welfare measures.
At issue was a 69-point revision of the 1999 constitution, which was also drafted under Chavez. The changes included some social provisions—the shortening of the working day and the establishment of a social security system for the millions of Venezuelans outside of the formal economy. The central thrust of the reform, however, was to substantially increase the power of the Venezuelan presidency, while doing away with term limits and lengthening the president’s term in office.
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