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Features: Economy

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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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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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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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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The Pros and Cons of Venezuela's Currency Controls

Venezuelan currency policy has seen both successes and failures over the last decade (Ryan Mallett-Outtrim/Venezuelanalysis)

Venezuela's currency controls including its fixed exchange rate are among the most controversial of Chavez-era policies. Here is a brief, straight-forward run down of some of the pros and cons of the country's currency regime.

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Where is Venezuela’s Economy Headed?

95% of Venezuela’s foreign export earnings in Venezuela come from oil sales (archive)

What did President Nicolas Maduro’s announcements during Wednesday’s state of the nation address tell us about the Venezuelan government’s economic agenda for 2014?

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The Scarcity Diaries

A roving Mercal, September 2013 (Sibci)

Treasure hunting for milk, confronting local hoarders, overpriced Pringles, toilet paper dilemas, and black market rates that are both economically and politically profitable  for big business... here are some experiences of food and product scarcity on the ground in Venezuela.

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Scarcity and Starvation? Venezuelan Food FAQs

Food products seized from alleged hoarders by the National Guard in June (VTV)

With all the media hype about Venezuela's food shortages this year, I decided to collate a few frequently asked questions about the food situation here, and set out to answer them.

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What the Statistics Tell Us about Venezuela in the Chavez Era

In the lead up to Venezuela’s presidential election earlier this year, the picture painted in most private media was that of a country falling apart. But a brief look at the statistics offers a very different story, one that helps explain why the majority of the Venezuelan people keep re-electing a government that, according to the private media, is driving the country into the ground.

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Revolutionary Democracy in the Economy? Venezuela’s Worker Control Movement and the Plan Socialist Guayana

An outdoor worker assembly in Alcasa, August 2011 (Prensa Alcasa)

In this in-depth investigative analysis, Ewan Robertson evaluates the advances and setbacks of the worker control movement in Venezuela, and what Venezuela's experience in worker control means for the Bolivarian revolution and movements for radical social change worldwide.

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Demystifying Venezuela’s Inflation: The Opposition’s Red Herring

An open air, or roving Mercal, with state produced products in the foreground (Mercal).

In local opposition and international mass media inflation is the buzzword, and because of it, Venezuela is clearly a mess, life is hopeless, and the government has got to go. Yet is inflation really the big evil it’s made out to be? How much does it impact on the lives of Venezuelans? How much worse is it, really, under Chavez, and what is the government trying to do about it and the food situation?

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If Venezuela were Measured by the Majority

What real democracy looks like: A communal council in Merida votes for its electoral commission in July 2010 (Tamara Pearson).

When Newsweek ranked Venezuela last out of 100 countries for “economic dynamism” it had a certain kind of economy and benchmarks in mind. Venezuela is constantly attacked and demonised by U.S based “studies”, “experts”, and “reports”, but what if its economy and political life were to be measured according to the benchmarks of the Venezuelan majority?

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From Agribusiness to Agroecology? An Analysis of Venezuela’s Nationalization of AgroIsleña

A bicyclist passes by an AgroIsleña distribution center (Globovision)

With the nationalization of AgroIsleña, the Venezuelan state has taken an important step in the struggle to bring social and economic factors under greater control of the Venezuelan people and out of the hands of private, profit-driven firms. What is yet to be understood is what ecological factors will be considered as the AgroPatria project moves forward.

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