A six story giant poster of a fatherly Hugo Chavez, the president of Venezuela, embracing a beaming child with bold letters above it saying: “Towards Socialism,” covers an office block towering over Plaza Venezuela, one of the busiest hubs in Caracas (Venezuela’s capital city).

The Financial Times reports that, “it is just one of myriad government advertisements across Venezuela promoting what President Chavez has branded, ‘Bolivarian socialism.’”

The government has roughly tripled the volume of its publicity over the past five years across all media, according to estimates by the Venezuelan Publicity Institute.

Some form of the government plays a role in more than a third of television advertisements, approaching half in newspapers, and more than three-quarters on radio.

Consequently, little space is left for private companies, which are facing significantly higher advertising rates.

To read the entire article from the Financial Times, link here:

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