How Did Venezuela Become Such A Disaster?

You’ve probably read or heard a great deal about the incipient chaos in Venezuela.  There are serious food shortages, rampant crime, seething unrest, and the threat of a violent government crackdown.  And yet Venezuela has untold riches in oil.  Most people are unaware that it was one of the major driving forces behind the founding of OPEC many decades ago.  It used to be a stable, prosperous, and reasonably efficient state structure.  How could a country with so many natural resources be unable to feed its people?  What happened?  How did it all unravel?  And what lessons can we draw from the drama?

[To read the rest of the article, click here.]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s