Venezuela’s pre-Chavez democratic governments were messy, inefficient, and corrupt. However, there were term-limits: presidents could only serve one term and would have to wait a decade out of office before seeking re-election. Government included checks and balances to the point that Carlos Andres Perez (who Chavez tried to assassinate) was impeached for corruption in 1993. Judicial appointments were previously made by factions from various political parties—unlike under Chavez who, first, stacked the Supreme Court and, then, personally threw judges who disagreed with him in prison (the most prominent one, a female judge, alleged that she was raped there). Critical television and radio stations weren’t shut down and labor unions marched and were able to strike without going to prison under the earlier regime. Under Chavez, the persecution of union leaders was frequent.

Both monetary policy and the oil wealth collected by the central government had historically been subject to audits and congressional oversight from a bicameral body. Under Chavez, none of the above was allowed. Accountability became non-existent. In 2012, Transparency International declared Venezuela the most corrupt country in the Americas. From this perspective, waste due to mismanagement of the economy and theft from government coffers during Chavez’s 14-year rule far exceeds the economic evils under all Venezuelan governments during the twentieth century. Combined.

With sources linked in the article.