Bolibourgeoisie
Term describing the new bourgeois created by the Venezuelan government / From Wikipedia, the free encyclopedia
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Bolibourgeoisie (a portmanteau of the words Bolivarian and bourgeoisie) or Bolichicos (English: Boliboys) are terms describing the new bourgeois created by the Venezuelan government of Hugo Chávez and Chavismo, made up of people who became rich under the Chávez administration.[1][2][3] The term was coined by journalist Juan Carlos Zapata to "define the oligarchy that has developed under the protection of the Chávez government".[4][5]
Corruption among the bolibourgeoisie and Chávez-administration sympathizers has moved billions of dollars with the complicity of public officials, with some becoming rich under the guise of socialism.[6][7][8] Henry Ramos Allup, a leader of the opposition party Democratic Action, has said corruption in the financial industry and other sectors of Venezuela is tied to government officials of the Chávez administration.[7][9] Following the death of Chávez, the bolibourgeoisie became more powerful and held more influence over Venezuela during the presidency of Nicolás Maduro.[10] Many figures of the bolibourgeoisie were included in the Panama Papers scandal.[8]