The Most Mismanaged Economy in the World

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Venezuela, a nation blessed with the largest oil reserves in the world, has shockingly transformed from a potential powerhouse to an economic disaster. In this video, we dive into the mismanagement that led to a collapse so severe that international agencies stopped tracking it. Explore how internal failures and external pressures pushed this once-promising country to the brink, and whether there’s any chance left for a recovery.

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38 pemikiran pada “The Most Mismanaged Economy in the World”

  6. The geopolitical environment that Venezuela exists in is completely different from countries like Norway, Canada, and the US. So much so that I think a comparison is a bit pointless. I don’t think this video really explains or even attempts to describe some of the nuance of living in a wealth center like Europe, surrounded by both water and pacifists, and no nearby economic powers that consistently meddle in domestic politics via sanctions and attempts at regime change. I understand this is an economics channel but it’s a bit disappointing to see this kind of one-sided analysis…

    Balas

  9. America is solely to blame for the plight of Venezuela. Just as it is for Cuba. Within a few years those two will become power houses. Totally opposed to American hegemony. People all over the globe will remember the US genocide. Their influence is over!!

    Balas

  11. Zcela nekompetentní parta idiotů mi tady doporučuje video o nekompetentním idiotovi z druhy strany světa 😂😂😂😂😂😅🎉

    Cirkus par excellence 😂😂😂😂😅

    Balas

  12. Ouch, trying to whitewash the effect of the largest superpower to ever face the world sanctioning Venezuela's economy because they refuse to bend the knee to US corporations taking their resources makes me rethink how your bias shapes this channel's reporting. Anyone who wants to learn more about this corruption should read Anya Parampil's new book

    Balas

  16. After the collapse of the present government, it should be written into the Constitution of the new government that this period in Venezuelan history should be taught in elementary school, every year in high school, and two full-semester classes in college.

    Balas

  25. No amount of wealth can sustain a society that believes in "The Most Dangerous Superstition" (Larken Rose). This politics of "Democratic Socialism", i.e., authoritarianism/collectivism is self-destructive. It is inhuman, unmanageable, unrealistic, immoral. Examples? EVERY govt. worldwide is collapsing, at varying speeds, depending on the degree it practices coercive govt.

    Balas

  26. Venezuela has been a rentier society since its founding. That’s why it couldn’t manage its oil wealth to save its skin. And it explains why it choose the economic policies that it did. That also explains why it won’t turn itself around, until the Venezuelans change their rentier attitude.
    A bit of this video should have covered the oil boom of the 1970s, and how that lead to policies that eventually put Chavez (and his system) into power.
    There is no better real life model for the world of Atlas Shrugged than the events that occurred in Venezuela over the last 30-40 years.

    Balas

  28. you mention the non-consequential sanctions. Here's the real sanctions crippling the Venezuelan economy: August 2017, the Trump administration imposed sanctions which prohibited Venezuela's access to U.S. financial markets, and in May 2018, expanded them to block purchase of Venezuelan debt.

    Balas

  35. I grew up in an anti-business society. I lived with "proud, god-fearing, tax paying, patriots", e.g., "true believers" in "The Most Dangerous Superstition" (Larken Rose).
    I was taught by my communist father and grandfather, given books by Marx & Engles. I studied the "Communist Manifesto". I read no pro-capitalist books, heard no advocates, lived in a pro-socialist political environment, e.g., the USA, 1950's. 
    I am a nerd, born finding math wonderful, a beautifully logical escape from a chaotic world, a society of violent hypocrites, who defended their irrationality with physical force, the minute their weak contradictory arguments failed. I learned from experience. I was physically attacked at 8, 9, and 13 in public school for asking questions and pointing out the contractions in the answers. Afterward, I was expelled. Having no one to defend capitalism and strongly influenced by my parents, my teachers, toward authoritarianism, I became non-violent, anti-authoritarian, pro-individualist, e.g., a capitalist. Later, in my 20's, I found the economic school of thought that verified my choice, "The Austrian School of Economics". It was there all along, but repressed, not taught, kept hidden by "the powers that be". Only intellectuals who value truth have searched and found the efficacy of the free market and non-violence in life.

    Balas

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