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How did Venezuela get to this point?

The images, anecdotes, and videos coming out of Venezuela in the past year have been heartbreaking. Shortages of medicines and basic household supplies, people rummaging through garbage for food, violent clashes, a seemingly hopeless future.The data if anything understate the scale of the catastrophe. Entirely avoidable, the combination of policies and circumstances leading to it have been in place for years. Ricardo Hausmann, a Harvard-based Venezuelan economist deemed persona non grata by the government for his fierce criticisms, appeared on Alphachat recently to discuss the sequence of events preceding this cataclysmic economic situation. He also talked listeners through the relevant Venezuelan history, the country’s dependence on oil, and the conditions in place that made it possible

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Cardiff Garcia
Cardiff writes mostly about US macroeconomic issues, with daily excursions into other topics about which he claim no expertise. Before Alphaville, Cardiff spent a little more than two years as a reporter at Dow Jones Financial News covering investment banking, asset management, and private equity. Along the way he has written freelance pieces on a variety of other topics from behavioural psychology to Muay Thai, the latter also being a personal interest that involves frequently getting kicked in the shins (and torso, and head).

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