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Analysis: Economy

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

(archive)

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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Venezuelan Voices, Part II: An Inflammatory Question

A PDVSA [state] truck transporting gasoline in Caracas (AVN)

As Venezuelan president Nicolas Maduro combats corruption, reassigns half of ministry positions, launches “a new stage of the revolution,” and even hints at a minimum wage increase for November, the question remains what economic steps will be taken to reverse the high inflation that critics are quick to associate with his leadership.

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Venezuelans Protest Big Business for their Role in the Economic War

Cory Fischer-Hoffman/Venezuelanalysis

Amidst the ongoing “economic war” in Venezuela, 200 people from various political collectives marched to Fedecamaras headquarters to place a spotlight on how the largest business confederation may be contributing to scarcity, inflation and speculation in Venezuela. 

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“A Daunting Situation”: Doctor Zaira Medina Speaks about Venezuela’s Medicine Shortages

Medina (left) (Correo del Orinoco)

In an interview with the radio program “Ajicero” last Friday, Zaira Medina, a doctor and the director of the Pérez de León Hospital in Petare, Caracas, speaks with Carlos Novella and Miguel Denis about current shortages of drugs and medical supplies in Venezuela.

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Snapshot from the Economic War in Venezuela

Johnny Moreno (left) teaching a Mision Robinson [literacy] class in 2004, in El Valle, Caracas. (Sujatha Fernandes)

Sujatha tells the dark understory of the economic war in Venezuela- the human side of the struggle against corruption that can hardly be expressed through graphs and charts.

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Venezuelan Voices, Part I: An Economic Spiral

On the border between Brazil and Venezuela, if you don't want to wait on the long gas station lines, you can fill up your t

As international media plays its favorite old game of lambasting the Venezuelan government, long-time observers of the Bolivarian process may be wondering how much truth lies in the prime-time reports depicting empty shelves, long lines and charts showing catastrophic inflation. How precarious is Venezuela’s current economy and, more importantly, how much are the effects of this felt by the Venezuelan people?

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“15 Years Is Not Enough to Undertake a Revolution”: Interview with Venezuelan UNASUR Secretary Alí Rodríguez Araque

Ali Rodriguz Araque (archive)

Opposition-leaning Venezuelan newspaper El Universal interviewed Ali Rodriguez Araque recently, the current president of UNASUR, a top minister in the Chavez administration, and the next Venezuelan ambassador to Cuba. Rodriguez shares his thoughts on economic issues and the key future tasks of the Bolivarian project.

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Planned Reforms May Determine Survival of Venezuela’s Bolivarian Project

Venezuelan president Nicolas Maduro has proposed a series of major reforms to the economy, state and party in the hope of settin

The administration of President Nicolas Maduro faces a set of adverse conditions which have the potential to turn a majority of the country’s citizens against the incumbent government at the next election. In this context, there is perhaps more riding on economic and state reforms currently being designed than first meets the eye.

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