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Analysis: Economy

Bolivarian Revolution Economic Policies at a Crossroads - Capitalism Cannot be Regulated

(archive)

Jorge Martin offers his analysis of the debate underway within Chavismo over the Bolivarian government’s economic policies.

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Chavista Debate More than Pragmatists vs Radicals

(Jorge Giordani / archive)

Federico Fuentes examines the debate underway within Chavismo over the Bolivarian project’s economic direction following the public criticisms of the Maduro administration’s policies made by former planning minister Jorge Giordani.

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Venezuelan Central Bank Director Eudomar Tovar on Hedge Funds and Latin American Sovereignty

Eudomar Tovar (AVN/ Archive)

In this interview,the director of Venezuela's Central Bank discusses Argentina's "vulture fund" dispute. Tovar also outlines the latest efforts at creating an alternative finanancial architecture for Latin America, such as the Bank of the South and the Sucre currency.

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Cuban Ex-Guerilla is Consultant for Venezuelan Economic Reform

Orlando Borrego (right) with Che Guevara (archive)

Cuban economist and ex-guerilla combatant Orland Borrego, who fought alongside Che Guevara during the Cuban revolution, will be advising Venezuelan president Nicolas Maduro on how to establish a “total re-structuring” of the Venezuelan economy. 

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Is Poverty Still Falling in Venezuela?

A barrio (informally constructed urban community) in Caracas, with the buildings painted under the urban regeneration social pro

This article examines the claim that poverty is rising in Venezuela by examining the country’s latest poverty statistics, as well as exploring current efforts at further poverty reduction.

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Austerity/Immiseration Capitalism: What Can We Learn From Venezuelan Socialism?

Anti-Austerity Protest In Dublin, Ireland. November 24, 2012. (Photo: William Murphy / Flickr)

Peter and Mike recall the lessons learned from their time in Venezuela, and what the Bolivarian process may be able to teach the western world, for, as they say "While democratic socialism may sound utopian in the European context, and positively unimaginable in the United States, there is a viable alternative to the neoliberal model in existence."

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Debate On the Seed Law. Shipment of Transgenic Seeds Arrives in Venezuela

Manuel Leon sows corn from his five hectare farm in Apure. He received a government credit for three hectares of the planting. (

From within the collectives we are provoking a grassroots constituent debate for a new revolutionary seed law, built from the bottom by the legislating people, in defense of a free, criolla, indigenous,peasantAfro-descendant and sovereign seed, which is under threat by the advances of transnational authorities who would like to control political stability in the country. 

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“We Still Have Time to Change Course Away from Bourgeois Conciliation”: An Interview with Activist and Aporrea Founder Gonzalo Gomez

Gonzalo Gomez (archive)

Gonzalo Gomez, a founder of alternative Venezuelan news website Aporrea.org, and a member of Socialist Tide, a critical left current within the United Socialist Party of Venezuela, gives his view on the current political moment and possible future trajectories for the Bolivarian revolution.

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FiveThirtyEight Gets it Wrong on Venezuela

FiveThirtyEight.com features Venezuelan economy

Nate Silver, who became famous for his use of polling data to accurately project U.S. elections, launched a new blog – FiveThirtyEight.com last month.  It’s been off to a rough start, Paul Krugman wrote soon after its launch, “[S]loppy and casual opining with a bit of data used, as the old saying goes, the way a drunkard uses a lamppost — for support, not illumination.” I leave it to the reader to decide whether the FiveThirtyEight article on March 17 by Dorothy Kronick on Venezuela fits this description.

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Venezuela’s Black Market Dollar Plummets on News of New Exchange Rate Mechanism

(CEPR)

While most of the news from Venezuela has been focused on protests, something that is probably more important for the future of the country has taken place. The black market value of the dollar has plummeted by one-third in the past three weeks.

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The Decalogue of a Neoliberal Economist

(archive)

Venezuelan economist Simón Andrés Zuñiga responds to the neoliberal critics of Venezuela’s economic model and the problems it faces.

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Venezuela: The Left, Context, Prices and the Market

Roland Denis

How shall we put today’s revolutionary left in Venezuela into context?

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Real News/Wilpert Part 2: Why is Inflation So High in Venezuela?

Caracas (Gloria Rodríguez)

Attempting to build socialism surrounded by a global capitalist economy and being reliant on oil revenues, Venezuela is struggling to find a solution to capital flight and exchange rate problems 

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Venezuela: The Political Economy of Inflation and Investment Strikes

A Venezuelan market (SIBCI)

This paper adopts a Marxian class analysis to dispute the orthodox critique of high inflation in contemporary Venezuela. It draws a parallel between the 2002-03 oil industry lock-out and the capital strike in the Venezuelan foodstuffs industry today. In each case, capital has suspended production to bid up the price of basic goods and create widespread shortages.

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US Foreign Policy in Latin America Leaves an Open Door for China

Venezuelan president Nicolas Maduro (right) with Chinese prime minister Li Keqiang last Septmber (EFE)

Economist Mark Weisbrot argues that China could provide credit lines to back up Venezuela and Argentina’s currencies in order to counteract U.S. designs for the Latin American region.

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