Tom Gjelten

NPR Touts Hugo Chavez, End to 'Free Market Fundamentalism'

National Public Radio may win the prize as the national media outlet that’s most enthusiastic about a collapse of high finance on Wall Street. On Tuesday night, NPR’s evening newscast All Things Considered publicized the delighted reaction of Venezuelan socialist strongman Hugo Chavez, as reporter Tom Gjelten explained that "free-market fundamentalism" was falling out of favor, and the crisis may mean the "end of Reagan-Thatcherism." It may lead to less "economic preaching" about a "free-market gospel" from Washington. All the story’s experts were critical of "free-market ideologues," with no room for a debate.

Gjelten is married to ABC reporter Martha Raddatz, who also used to work at NPR.

MELISSA BLOCK, host: This is All Things Considered from NPR News. I'm Melissa Block. At least one world leader is taking some pleasure in the turmoil on Wall Street. Venezuelan President Hugo Chavez said today that this week's meltdown shows the free-market approach long promoted by the United States has, in his words, "collapsed." Chavez may be overstating the case, but as NPR's Tom Gjelten reports, the current financial crisis is causing some rethinking of the free-market gospel, especially in Latin America.