JOHN STOSSEL: Noam Chomsky’s Venezuela Lesson.

Chomsky, whose anti-capitalist teachings have inspired millions of American college students, praised Chavez’s “sharp poverty reduction, probably the greatest in the Americas.” Chavez returned the compliment by holding up Chomsky’s book during a speech at the U.N., making it a best-seller.

Is Chomsky embarrassed by that today? “No,” he wrote me. He praised Chavez “in 2006. Here’s the situation as of two years later.” He linked to a 2008 article by a writer of Oliver Stone’s movie who said, “Venezuela has seen a remarkable reduction in poverty.”

I asked him, “Should you now say to the students who’ve learned from you, ‘Socialism, in practice, often wrecks people’s lives’?”

Chomsky replied, “I never described Chavez’s state capitalist government as ‘socialist’ or even hinted at such an absurdity. It was quite remote from socialism. Private capitalism remained … Capitalists were free to undermine the economy in all sorts of ways, like massive export of capital.”

It’s always wreckers and hoarders, and never the collectivists.