The author of this article starts by talking about the current political status in Venezuela and how it came to the socialist power that it is. He then continues on to explain why he thinks that the authoritarian rule is harming the economy and killing incentive to improve. He uses all of this information to then claim that as a result, the issues that Venezuela is facing are political and not economic. While it attempts to explain a way to fix the issues facing Venezuela, it fails to provide any irrefutable facts or evidence to back up its claim. I also think that while changing the political climate in the country would solve some of their issues, it would be much harder than trying to make economic reforms.
Country sitting on world's biggest oil reserves is now region's poorest performer in terms of GDP growth per capita. This video interview with a Harvard economics professor and a Venezuelan government advisor delves into some of the causes of the crisis that the country is now facing. I found that the information provided in the video to be very enlightening into understanding what caused the crisis that they are facing
This article talks about impending turmoil facing Venezuela, talking about its extremely high inflation rate of around 1600% and its second highest murder rate. The latest blow came with the March 29 Supreme Court ruling to dissolve Venezuela’s opposition-led National Assembly, after which there has been much rioting. It appears that the tension is only being made worse by the consolidation of power by the president Nicolas Maduro. In my opinion this article does a good job of presenting an unbiased point of view and informing the public of the impending issues that Venezuela is facing.
BBC News takes a closer look at the economic and political crisis rocking Venezuela and its leader, Nicolas Maduro. This article provides important background information about President Maduro and some of the policies that he has implemented into the country. The author talks about the consequences that he has faced as a result of these decisions, such as the decision to not create a general election and to instead preserve the power that he currently controls. I found this article helped me better understand the political situation that they are facing in Venezuela and as a result, I can better understand how it has changed the economic situation.