Richard D. Wolff

As for Venezuela, from what I’ve learned (and I’d love to hear Richard’s full take too), the collapse wasn’t just about oil prices — though that definitely played a role. The country became extremely dependent on oil exports, and when prices tanked, there wasn’t much of a backup plan. On top of that, years of government mismanagement, corruption, and heavy centralization of power really made things worse. They printed a ton of money, which led to insane inflation, and nationalized a lot of industries, which discouraged private investment and wrecked productivity. https://hillclimbrace.io/

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