Maduro’s new economic proposals entail the deepening of Venezuela’s implicit dollarization, and the Soviet-style privatization of strategic economic sectors, such as the country's oil industry.
Subhead: Contrary to Biden’s thinking, the M
Maduro's dictatorship has exhausted the democratic paths to resolve the crisis in Venezuela. The opposition has also exhausted the electoral and negotiation channels.
“La Resistencia es Libertad,” a new message heard all over Venezuela.
Los venezolanos se encuentran en una situación de desespero, frustración, indefensión (inducida a veces) y de resiliencia en el sentido negativo de la palabra que se traduce en un desencanto total, falta de confianza y rechazo a sus "representantes" (tanto usurpadores como pretendidos) Por un lado, se desinfla la dinámica del Interinato que inició con un gran apoyo y expectat
In the middle of the biggest economic collapse of any nation in modern times, Venezuela is experiencing a fundamental, and perhaps irreversible, change within its economic system. Since 2019, Venezuela has been driving full throttle towards an economic phenomenon, which I refer to as implicit dollarization.
On Tuesday, Maduro proposed new legislation that encompasses the privatization of the oil industry, the possibility of returning expropriated companies to their original owners, and the free trade of strategy goods, such as fuel.
The main constraint for growth in Venezuela is not related to market failures nor any purely economic issue, but to the political institutions of the country. As a result, Venezuela exemplifies that the economic issues of most nations are a result of their bad governance.