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Analysis: Economy

How Severe Is Venezuela’s Crisis?

People buy food at a market in Caracas, Venezuela on June 21, 2016 (Mariana Bazo / Reuters).

Gabriel Hetland concludes that the mainstream media has consistently exaggerated the extent of Venezuela's current economic crisis following a three week visit to the South American country. In this piece, he draws on a number of interviews with social movement activists to answer the question: just how bad is Venezuela's current crisis? 

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What’s Going on in the Barracks?

President Maduro with Admiral in Chief Diego Molero Bellavia. (AP)

Venezuela's armed forces could determine the fate of the Maduro government. 

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Beyond the Boliburguesía Thesis

(servirlpeuple.blogspot)

Steve Ellner explains why critics of Chavismo are wrong to suggest that socialism is to blame for corruption in Venezuela

 

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Calling All Venezuelans to the Table

Residents of Venezuela's housing mission take up urban agriculture. (Jonas Holldack/Venezuelanalysis)

Long time Venezuela-based solidarity activist Lisa Sullivan analyzes the roots of Venezuela's crisis, arguing that solutions must come from beyond the country's government-opposition political polarization. 

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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 attempts 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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