Skip to Navigation

Analysis: Economy

A Marxist Analysis of the Currency Exchange Controls in Venezuela

(YVKE)

The author argues that the current foreign exchange control regime has failed to prevent transnational and domestic capital from taking its profits out of the country and that no government policy, no matter how conciliatory towards business, will attract investment in Venezuela as long as the Revolution continues. Only the expropriation of the bourgeois-controlled means of production– the "completion of the revolution"– will solve the present crisis. 

» read more

Chavismo On The Horns Of A Dilemma: Populism And Pragmatism In Venezuela

Mision Mercal, the state mission aimed at distributing subsidised food to Venezuela's poorer sectors emerged as a response

Academic Steve Ellner explores the current political and economic juncture in Venezuela, linking its current difficulties to the tendency to pursue both pragmatic and populist strategies and the failure of the government in certain cases to take advantage of its triumphs over the opposition in order to launch a revolutionary offensive. 

 

» read more

Venezuela: Maduro and the Market

Nicolas Maduro at a Chavista rally (Credit: Ministry of Communication)

Historian and veteran analyst Steve Ellner argues that President Nicolas Maduro's economic strategy represents an effort to take the middle road between those demanding radical expropriations irrespective of market reality and those calling for currency devaluation,  all as part of a bid to win further breathing room for renewed revolutionary advances  

» read more

Victor Alvarez: “Venezuela’s Currency Controls Are No Longer Justified, and Are Only Used as a Means of Political Domination”

Victor Alvarez (quintodia.com)

Leftist economist and former high-ranking government official Victor Alvarez offers a critical perspective on state economic policy under the Bolivarian Revolution, arguing that it has perpetuated a neo-rentier logic via exchange controls and other measures that must be abandoned for socialism to advance.

» read more

Must the Venezuelan Right Back Coups?

Lopez, gas mask in hand, participating in the coup against Chavez while wearing a shirt of the municipality he was mayor of. (Ph

If the US government would stop unconditionally backing golpistas then the international press (and some well-funded NGOs) would follow suit.

» read more

What Is Happening in Venezuela?

Opposition supporters protest against the Venezuelan government and in support of jailed opposition leaders Leopoldo Lopez and A

Coups and countercoups. Crackdowns. Economic crackups. Seven cents for a tube of toothpaste and $755 for a box of condoms. Falling oil prices. The arrest of an opposition leader. Washington plots. Human Rights Watch tweets. South America rallies.... Greg Grandin talks to a panel of experts to find out what really is going on in Venezuela.

» read more

FAO Representative Debunks Myth of Increased Hunger in Venezuela, Highlights Urban Farming Initiatives

FAO representative for Venezuela, Marcelo Resende (Photo: Miguel Romero)

FAO Representative Marcelo Resende says Venezuela's urban agriculture is playing a key role in improving food sovereignty.

» read more

Raising the Price of Gasoline: An Inflationary Measure for No One’s Benefit

It is estimated that 100,000 barrels of oil and gasoline are smuggled out of Venezuela daily (Credit teleSur)

Deivi Peña argues that increasing the price of gasoline will give the Venezuelan oligarchy an excuse to intenify the economic war by setting off a further spiral of inflation that will harm working class people. 

» read more

An Oral History of Grassroots Venezuelans in the Midst of the Economic War

A woman shows her constitution and support for President Maduro at Plaza Bolivar on January 21. (Cory Fischer-Hoffman)

While the shortages and long-lines are creating serious inconveniences and undeniable burdens on most Venezuelans, beyond the frustration, the voices of grassroots Venezuelans are getting lost beneath negative predictions of macroeconomic collapse. In this oral history collage, members of the Venezuelan grassroots and popular movements speak for themselves about the roots of the economic war, their strategies in the face of it, and the solutions that they propose.

» read more

Venezuela's Bolivar Needs Bold Action

Venezuelan President Nicolas Maduro announced that he would not be making significant changes to the Exchange rate system. (PHOT

Venezuelan President Nicolas Maduro made a point of downplaying his foreign exchange reforms last Wednesday, and good thing he did. The reforms are bound to do little to curb Venezuela's economic problems, despite the fact that genuine changes to the exchange system are urgently needed.

» read more

Revolution, Counter Revolution, and the Economic War in Venezuela: Part II

Member of the Venezuelan National Guard stands by a large supply of hoarded cooking oil.  (PHOTO:Venezuelasolidarity)

William Camacaro and Frederick B. Mills offer an important overview of the current economic war in Venezula. Part II focuses on the need to change the economic model in Venezuela and explores the balance of political and economic forces in Venezuela today.

» read more

Revolution, Counter Revolution, and the Economic War in Venezuela: Part I

Trade Unionists hold up signs that say "No to the Economic War!" (PHOTO: From Archives)

William Camacaro and Frederick B. Mills offer an important overview of the current economic war in Venezula. In Part I of this two-part series, the authors give an overview of the current political climate in Venezuela and provide historical context for the use of food as a political weapon. By examining the 1973 Coup in Chile and the way that control of food was used during the 2002 coup in Venezuela and the 2003 Oil strike, the authors push for a deeper understanding of the current political climate in Venezuela today. Part II focuses on the need to change the Economic model in Venezuela.

» read more

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.

» read more

China, the CELAC, and Venezuela

(archive)

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.

» read more

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.

» read more

Syndicate content