May 13, 2016

The collapse of Venezuela - one of the richest oil countries

This is an excellent article for student's of economy, public policy, finances and the layman on how wrong decisions (socialism?) can mess up an excellent economy.

Venezuela, in spite of having some of the best oil reserves in the world, is facing severe problems - problems which started well before the collapse of the oil trade.

Extreme poverty, hyper inflation, shortage of basic essentials, collapse of basic govt services and so on.

Can this happen in India? Read this article and find out.

Link to article: http://www.theatlantic.com/international/archive/2016/05/venezuela-is-falling-apart/481755/

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