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Megan McArdle

Megan McArdle - Megan McArdle is a senior editor for The Atlantic who writes about business and economics. She has worked at three start-ups, a consulting firm, an investment bank, a disaster recovery firm at Ground Zero, and The Economist. More

Megan was born and raised on the Upper West Side of Manhattan, and yes, she does enjoy her lattes, as well as the occasional extra-dry skim-milk cappuccino. Her checkered work history includes three start-ups, four years as a technology project manager for a boutique consulting firm, a summer as an associate at an investment bank, and a year spent as sort of an executive copy girl for one of the disaster-recovery firms at Ground Zero … all before the age of 30.

While working at Ground Zero, Megan started Live From the WTC, a blog focused on economics, business, and cooking. She may or may not have been the first major economics blogger, depending on whether we are allowed to throw outlying variables such as Brad Delong out of the set. From there it was but a few steps down the slippery slope to freelance journalism. She has worked in various capacities for The Economist, where she wrote about economics and oversaw the founding of Free Exchange, the magazine's economics blog. She has also maintained her own blog, Asymmetrical Information, which moved to The Atlantic, along with its owner, in August 2007.

Megan holds a bachelor's degree in English literature from the University of Pennsylvania and an M.B.A. from the University of Chicago. After a lifetime as a New Yorker, she now resides in northwest Washington, D.C., where she is still trying to figure out what one does with an apartment larger than 400 square feet.

The people have spoken, the bastards

By Megan McArdle
Dec 4 2007, 12:30 PM ET Comment

Daniel Drezner offers up the optimistic take on the Venezuelan referendum:

[J]ust as important [as the referendum's defeat] was Chavez's concession. The opposition "won this victory for themselves," he admitted in a voice whose subdued calm was in contrast to his frequently aggressive political speeches. "My sincere recommendation is that they learn how to handle it." Despite his authoritarian bent, Chavez (whose current and apparently last term ends in 2012) had always insisted he was a democrat — that he was, in fact, forging "a more genuine democracy" in a nation that had in many ways been a sham democracy typical of a number of Latin American countries. His presidential election victories — in 1998, 2000 and 2006, as well as his victory over an attempt to recall him in a 2004 referendum — were all recognized by credible international observers; and that conferred on him a democratic legitimacy that helped blunt accusations by his enemies, especially the U.S., that he was a would-be dictator in the mold of Fidel Castro.

In the end it was a cachet that, fortunately, he knew he couldn't forfeit. As a result, the referendum result will resonate far beyond Venezuela.


That is indeed reason for optimism, but it strikes me as a little too soon to declare victory. After all, Robert Mugabe conceded graceful defeat after a similar referendum in 2000:

Zimbabwe's President Robert Mugabe has accepted defeat in a referendum on a new constitution.

"The government accepts the result and accepts the will of the people," the president said in a televised address to the nation.

He added that the result was "unfortunately a 'no' vote".


The next move was, of course, his attempt to consolidate power through the disastrous land reform and associated economic policies that have driven Zimbabwe's economy into the ground.

The situations aren't entirely parallel, of course; situations rarely are. But Chavez's crony populism and hamfisted mismanagement of the country's main economic resource, combined with his obvious belief that the world would be a vastly better place if he had a great deal more power, does not exactly make me sing with joy for his nation's prospects.

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