The Roots of the Current Situation in Venezuela
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- Published on Saturday, 05 December 2015 13:45
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A Socialist Project e-bulletin .... No. 1195 .... December 5, 2015
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The Roots of the Current Situation in Venezuela
Gregory Wilpert
The current economic, political, and social situation in Venezuela is very complicated, which makes it somewhat difficult for outsiders to make sense of. On the one hand there are many people who defend the Bolivarian revolution, pointing to the successes it has had in reducing poverty and inequality and in increasing citizen participation and self-governance. On the other hand, there is a chorus of critics, not just from the usual suspects on the political right, but often from the left, who criticize the Maduro government's economic management of the country, corruption, the high inflation rate and shortages, and the trial of a high profile opposition politician, who the government accuses of fomenting violence. How did... Venezuela get here? What happened since Hugo Chavez's death? Did the project derail, get stuck, hit a speed bump, or crash altogether? In order to answer this question, I will first analyze the origins of the current economic situation.
The Bolivarian revolution in Venezuela is no doubt undergoing one if its toughest periods at this time. With inflation reaching an unprecedented 160-200 per cent for 2015, nearly constant long lines at subsidized supermarkets, and sporadic shortages of many consumer goods, the entire population -- whether Chavista, opposition sympathizers, or "ni-ni" (neither one side nor the other) -- is frustrated with the situation. While the Maduro government says that the problems are the result of an economic war that is being waged against the government, the opposition argues that it is government economic mismanagement that is to blame. The truth, as usual, is more complicated.
