The aluminum industry is on firmer ground when it tells a narrow story about high-purity metal and national defense. The report tells a different story, which its own tables do not support.

Our public policies telegraph a message about our culture, our institutions, and what we value. A wealth tax says: “Don’t get too successful here. We want only middling ideas. If you have a really good idea, certainly don’t sell it to too many people.”

Machado has her work cut out for her. She has to manage Venezuelans’ high expectations while negotiating a complex political transition. But she has already catalyzed that process and is proving to be a stabilizing force in Venezuelan society.