Venezuela's request to review a $46 million compensation claim filed by the oil service firm Tidewater has been rejected by the World Bank's International Center for Settlement of Investment Disputes (ICSID) on Wednesday.
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.
By Steve Ellner - New Left Project , May 22nd 2015
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.
By Steve Ellner - Alborada Magazine , May 13th 2015
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
By Mario Villegas/Victor Alvarez- QuintoDia.Com, May 5th 2015
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.