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Analysis: Economy

Economic Solutions: Two Perspectives from the Bolivarian Left

Women buy toilet paper in Caracas Supermarket (PHOTO: The Guardian)

In the face of on-going shortages of basic consumer goods, soaring inflation, a multi-pronged and broken currency exchange system and now falling oil prices, Venezuela's economic “crisis” is now being acknowledged at the highest levels of government. As opposed to the simplistic mainstream media coverage that attempts to blame Venezuela's woes on the boogie monster of “socialism,” we present two perspectives from within the Bolivarian Revolution on concrete public policy solutions to Venezuela's economic crisis.

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China, the CELAC, and Venezuela

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Venezuelan writer Luis Britto Garcia discusses the massive impact Chinese investment has had on recent Latin American development, while calling for strict outlines to be drawn to protect Venezuelan sovereighnty in the midst of heightened negotiation.

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Bias Creates Investment Opportunities in South American Bonds

Despite continued reporting that Venezuela will default on its debt, Mark Weisbrot, co-founder of the Center for Economic and Po

Despite continued reporting that Venezuela will default on its debt, Mark Weisbrot, co-founder of the Center for Economic and Policy Research, argues that default is unlikely.

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Fixing the Exchange Rate System in Venezuela

Most of Venezuela’s economic problems can be traced to the country’s dysfunctional exchange rate system, argues Weisbrot (ar

When it comes to economic policy, the ideas of the public can matter a lot. Elected governments have to worry about being re-elected, and this is certainly the case in Venezuela, where the electorate is polarized and the last presidential election was close.

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The Silent Success Of Cooperatives In The Bolivarian Revolution

The CECOSESOLA (Cooperatives of Social Services of Lara State) food co-op consists of 538 worker-members who sell to 60,000 shop

Dada Maheshvarananda presents how cooperatives are a strong force of community empowerment that are transforming people's values from being self-centered to actively working for the common good in Venezuela.

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Venezuela’s Decision Not to Devalue Its Currency Raises Questions

José Khan, Director of the Central Bank of Venezuela (BCV) stated that Venezuela will not devalue the bolivar currency (El Univ

Cory Fischer Hoffman looks at the pressures facing the Venezuelan economy and the questions raised by the decision of President Nicolas Maduro’s government not to adjust (devalue) the country’s exchange rate in the near future.

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The Corporate Assault on Latin American Democracy

ICSID logo (archive)

In recent years, the ever-aggressive corporate war on Latin American societies has entered a new phase, one in which major battles are being decided on the fourth floor of the World Bank headquarters in Washington, by an obscure and increasingly powerful institution known as the International Center for the Settlement of Investment Disputes.

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The Limits of Changes – Venezuela: Terminal Crisis of the Rentier Petro-State?

Caracas, Venezuela (archive)

Venezuelan author Edgardo Landar reviews recent and long term developments in the country’s politics and economy, and argues that the Bolivarian project must move beyond the “petro-state” in order to make further progress toward its transformative goals.

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Bolivia-Venezuela Comparisons Should be Very Helpful to Radical Chavistas

Bolivian president Evo Morles (left) and Venezuelan president Nicolas Maduro (La Prensa / EFE)

Emersberger responds to the recent opinion article “Paralysed Venezuela vs Thriving Bolivia”, arguing: “Maduro’s government, like that of Chavez before him, is facing an economic war and other forms of destabilization. The lesson from Bolivia isn’t that it must try harder to win over foreign and domestic elites.  On the contrary, Bolivia’s example offers ways to fight more effectively.”

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Planting the People's Seed Law in Venezuela

Anti-GMO Stencil on a building in Bellas Artes, Caracas. (Photo: Cory Fischer-Hoffman for Venezuelanalysis.com)

The battle against Genetically Modified Organisms (GMOs) is central in the ongoing fight between transnational corporations and the health and sovereignty of the people of Venezuela.

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Paralysed Venezuela vs Thriving Bolivia: Two Faces of Socialism

La Paz, Bolivia (archive)

Hernán Luis Torres Núñez, a frequent economics commentator on leftist Venezuelan community forum Aporrea, argues that Venezuela should learn from Bolivian president Evo Morales’ pragmatic style of governance for “21st century socialism”.

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The Professor & The President: Who’s the Bully?

Ricardo Hausmann (prodavinci.com)

Suren reviews the inflammatory Sep 5th opinion piece by Harvard economist Ricardo Hausmann, titled Should Venezuela Default? The article caused interest rates on Venezuelan bonds to temporarily soar as investors balked at Hausmann’s calculated commentary regarding the nation he once served as planning minister, during Venezuela's era of neoliberal reign known as the 4th Republic.

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Venezuela, Country of Overwhelming Riches and Intense Contrast

Smuggling toilet paper across the Simon Bolivar bridge, between Venezuela and Colombia. (Ramón Lepage / Orinoquiaphoto)

Quechua anthropologist Ollantay Itzamná writes of his crossing from Baranquilla, Colombia to Venezuela. After choosing not to heed the colorful warnings of famine and crime parroted by Colombian taxi drivers, Itzamná finds as he draws closer to the border that he is just one foreigner among hundreds of Colombians who cross over daily to fill their bags with low-priced goods.

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Why Venezuela Should Not Default

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In a provocative article published last week Venezuelan economists Ricardo Hausmann and Miguel Angel Santos make an argument that if authorities adopted a set of common-sense policies, they argue, these would include defaulting on the country’s foreign debt and making bondholders bear part of the burden of adjustment. Francisco Rodríguez  argues that Venezuela should not default on its debt because default Venezuela is not insolvent.

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Briefcase Companies and Phantom Importers

Luis Britto Garcia (courtesy)

Venezuelan writer Luis Britto Garcia argues that even before we critique the misuse of dollars by Venezuela’s flourishing phantom companies, we must look at what legitimate transnationals are allotted the most dollars through the government subsidy, and what their offered services say about the government’s priorities.

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