When U.S. forces swooped into Caracas in January to seize President Nicolás Maduro, many Venezuelans inside and outside the country rejoiced. Maduro’s ouster seemed to signal the imminent end of a regime that had for years oppressed and immiserated its people. Thanks to bold U.S. action, a government that had rankled its neighbors and sowed instability in the region now appeared destined to fall.
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The narrative presents a striking case of regime preservation under the guise of regime change. The strongest version of this story is that the U.S. achieved a tactical victory—removing Maduro—but strategically compromised by retaining the dictatorship’s structure, prioritizing economic interests over democratization. This aligns with historical patterns of U.S. intervention in Latin America, where geopolitical and economic goals often overshadowed democratic ideals. However, the current approac...