Mises Wire

Venezuela Didn't Need High Oil Prices to Prosper before Chavismo

Blog12/19/2018

In the era of relative market freedom, many of Venezuela's best years were during times of low oil prices. Trying to blame Venezuelan socialism's failure on oil prices only highlights how fragile economies are without markets.

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Venezuela: Forty Years of Economic Decline

Corporate WelfareThe Police State

Blog05/17/2017

By the 1970s, the Venezuelan economy was in deep trouble. The half-hearted reforms that followed, paved the way for the rise of Hugo Chávez.

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Venezuela Before Chavez: A Prelude to Socialist Failure

Global EconomyPrivate Property

Blog05/04/2017
The roots of Venezuela's failed regime can be found even before Hugo Chávez took office.
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