Venezuela: Let Them Eat… Rabbits?

How can a nation plummet so deeply into squalor so quickly in spite of abundant natural resources?

Once upon a time, an out-of-touch queen heard of her subjects’ lack of bread and supposedly responded, “Let them eat cake.”

Hunger has become so bad in Venezuela that its own out-of-touch ruler has proclaimed, in essence, “let them eat rabbits.”

This is how far Venezuela has fallen. And yet, only a few years ago, many (including the American left) were heralding the rise of “Bolivarian socialism” as the wave of the future and the hope for the people. How can a nation plummet so deeply into squalor so quickly in spite of abundant natural resources? Economists James Harrigan and Antony Davies explain in this new podcast episode.

Subscribe to the Word and Numbers podcast via iTunes.

Articles

Data

Further Reading

{{article.Title}}

{{article.BodyText}}