Carlos Andres Perez, a former president of Venezuela, attempted a liberalization of the economy in the late '80s to early '90s. The result? Widespread demonstrations, vandalism and looting, and the rise of Hugo Chavez, who attempted a coup. The liberalization failed mainly because, firstly, the first price control to be removed was that of oil, understandably a sacred cow for Venezuelans, and, secondly, he campaigned against economic liberalism while running for office (and was a big economic interventionist during his first term), then went ahead and instituted it, at the behest of the IMF, World Bank and the US.

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