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Analysis: Economy

Does Venezuela’s Crisis Prove Socialism Doesn’t Work?

(Shutterstock.com)

Ryan Mallett-Outtrim gives a run-down of the root causes of Venezuela's economic problems, arguing that the government's maintenance of exchange controls, not socialism, has sunk the country into a financial black hole.

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Venezuela – A Last Warning

Imports dropped by 18.7% in 2015 due to collapsing oil prices, forcing Venezuelans to queue up for government-regulated goods or

Venezuela's crisis is the failure not of socialism but of reformist attemps to tame and humanize capitalism, argues Jorge Martin. 

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Economic Policy Could Determine the Political Results in Venezuela

Venezuelan President Nicolas Maduro's possibilities for staying in power may depend on whether or not his government takes

Economist Mark Weisbrot argues that fixing Venezuela's broken currency exchange system may be the only way for the Maduro government to regain popularity and stay in power amid a right-wing offensive. 

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Chavismo From Below

(Archive)

Eva María talks to Trotskyist party Marea Socialista on why they've broken with Venezuelan President Nicolás Maduro and the path forward for the Bolivarian Revolution. 

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The Other Explanation for Venezuela’s Economic Crisis

 Venezuela Central Madeirense. (Wikimedia)

Mainstream critics of the Bolivarian government have systematically ignored the role of US imperialism and Venezuela's rentier oligarchy in fomenting the country's current economic crisis. 

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In Venezuela, Dismantling a Weapon of Mass Destruction

(Aporrea)

Economist Mark Weisbrot makes a case for unifying Venezuela's now double-tiered exchange rate.

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What is at Stake is not the Stability of a Government but the Viability of a Nation

Economist and ex-minister Victor Alvarez (archives)

In this interview, investigator and former Mining and Basic Industries Minister, Victor Alvarez, argues that the government must implement an economic stabilisation plan with social welfare before it is too late.

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Venezuela: ¡Comuna o Nada!

(Vero Canno)

In the face of surging right-wing counter-revolution and bureaucratic inaction on the part of the ruling socialist government, Venezuela's communes, George Ciccarielleo-Maher argues, are the only hope for radicalizing the country's seventeen year-long Bolivarian process.

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Questions for the President on Open-Pit Mining

Open-pit mining is condemned by environmentalists internationally for its ecological and human cost, as well as its heavy use of

In an open letter to President Maduro, the author raises concerns regarding a recent open-pit mining concession by the Venezuelan government to Canadian mining conglomerate Gold Standard, which is likely to have severe ecological repercussions in the South American nation. 

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Is South America’s ‘Progressive Cycle’ At an End?

Venezuelan President Nicolas Maduro. (Reuters)

Argentine political economist Claudio Katz analyzes the complex conjuncture faced by the Latin American left– ranging from the failure of neo-developmentalism to the resurgence of the neoliberal right– with the struggle to further radicalize Venezuela's Bolivarian Revolution at the forefront. 

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Corporate Journalists Enraged as Venezuela Pays Bondholders

Venezuelan President Nicolas Maduro (R) blows a kiss during a rally with PDVSA workers outside the Miraflores presidential palac

Frustrated analysts lash out as if they were the sworn enemies of Capital, showing they'll do anything to disparage Venezuela after the South American country defied official expectations in making its latest bond payment. 

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Venezuelans Back Maduro's Vision of a Socialist Future

(Aporrea)

A recent poll conducted by Hinterlaces, a well-known and usually reliable Venezuelan pollster, showed that Venezuelans, by a substantial majority, oppose neoliberal solutions to their country’s crisis.

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Venezuela’s Caracazo: State Repression and Neoliberal Misrule

The Venezuelan government deployed military personnel to the streets to repress the popular rebellion that began on February 27t

February 27th marked the 27th anniversary of the Caracazo. Here the author examines the deep roots of the uprising that saw "Venezuelan history split into two", overturning the oligarchic Fourth Republic and paving the way for the Bolivarian Revolution. 

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4 Steps To Fix Venezuela’s Economy

(Anadolu Agency / Getty Images)

Acclaimed economist Mark Weisbrot outlines a string of measures to resolve Venezuela's economic crisis, including instituting direct subsidies to poor and working class families, eliminating exchange and price controls, and diversifying the economy. 

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The Economist’s Latest Whoppers on Venezuela

Venezuela's President Hugo Chavez (R) gestures next to Nicolas Maduro. Both Venezuelan president have been targets of disho

Joe Emersberger debunks The Economist's latest distorted coverage of Venezuela, including its claims that Venezuelan poverty failed to drop under Chavismo, that Venezuela is the worst performing economy in the world, and that press freedom is under attack. 

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