The State of the Venezuelan Economy (Part 2)
Two weeks ago, I discussed the state of the Venezuelan economy. Today, I’d like to provide some information about how it got there, and what it might lead to in the future. When Hugo Chavez took power in 1999, he brought in his own ideology that is known as Chavismo. Chavismo is essentially left-wing populism that, like other with other Socialist regimes, is very hostile to private business. Hugo Chavez was president for 14 years, and during that time he implemented a huge number of regulations, taking control of big businesses and centralizing decisions to the government. Small private businesses Continue reading The State of the Venezuelan Economy (Part 2)