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Author: Carlos A. Rossi
Publisher: Springer Nature
ISBN: 3031346602
Category : Business & Economics
Languages : en
Pages : 574
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Book Description
This book explains why Venezuela is so rich in natural resources—it has been producing oil since 1922 and harbors the largest oil reserves in the world—and yet it is also a failed nation of class-divided citizens exhibiting deep poverty in a corrupt, incompetent state. Venezuela is a bipolar nation, where two marked poles in the society exist which have historical origins and are mutually exclusive. The book provides a critical analysis of Venezuela's history, economy and politics and explains the context and implications of the bipolar poles, known as the elite pole and the resentful pole. Both, it shows, have done serious harm to Venezuela’s prosperity. The author describes the vicious circle of oil wealth, corruption, inefficiency and world market dependency and gives recommendations for a better future.
Author: Carlos A. Rossi
Publisher: Springer Nature
ISBN: 3031346602
Category : Business & Economics
Languages : en
Pages : 574
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Book Description
This book explains why Venezuela is so rich in natural resources—it has been producing oil since 1922 and harbors the largest oil reserves in the world—and yet it is also a failed nation of class-divided citizens exhibiting deep poverty in a corrupt, incompetent state. Venezuela is a bipolar nation, where two marked poles in the society exist which have historical origins and are mutually exclusive. The book provides a critical analysis of Venezuela's history, economy and politics and explains the context and implications of the bipolar poles, known as the elite pole and the resentful pole. Both, it shows, have done serious harm to Venezuela’s prosperity. The author describes the vicious circle of oil wealth, corruption, inefficiency and world market dependency and gives recommendations for a better future.
Author: Miguel Tinker Salas
Publisher: Duke University Press
ISBN: 0822392232
Category : History
Languages : en
Pages : 344
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Book Description
Oil has played a major role in Venezuela’s economy since the first gusher was discovered along Lake Maracaibo in 1922. As Miguel Tinker Salas demonstrates, oil has also transformed the country’s social, cultural, and political landscapes. In The Enduring Legacy, Tinker Salas traces the history of the oil industry’s rise in Venezuela from the beginning of the twentieth century, paying particular attention to the experiences and perceptions of industry employees, both foreign and Venezuelan. He reveals how class ambitions and corporate interests combined to reshape many Venezuelans’ ideas of citizenship. Middle-class Venezuelans embraced the oil industry from the start, anticipating that it would transform the country by introducing modern technology, sparking economic development, and breaking the landed elites’ stranglehold. Eventually Venezuelan employees of the industry found that their benefits, including relatively high salaries, fueled loyalty to the oil companies. That loyalty sometimes trumped allegiance to the nation-state. North American and British petroleum companies, seeking to maintain their stakes in Venezuela, promoted the idea that their interests were synonymous with national development. They set up oil camps—residential communities to house their workers—that brought Venezuelan employees together with workers from the United States and Britain, and eventually with Chinese, West Indian, and Mexican migrants as well. Through the camps, the companies offered not just housing but also schooling, leisure activities, and acculturation into a structured, corporate way of life. Tinker Salas contends that these practices shaped the heart and soul of generations of Venezuelans whom the industry provided with access to a middle-class lifestyle. His interest in how oil suffused the consciousness of Venezuela is personal: Tinker Salas was born and raised in one of its oil camps.
Author: Raúl Gallegos
Publisher: Potomac Books
ISBN: 1640122133
Category : Political Science
Languages : en
Pages : 262
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Book Description
Beneath Venezuelan soil lies an ocean of crude—the world’s largest reserves—an oil patch that shaped the nature of the global energy business. Unfortunately, a dysfunctional anti-American, leftist government controls this vast resource and has used its wealth to foster voter support, ultimately wreaking economic havoc. Crude Nation reveals the ways in which this mismanagement has led to Venezuela’s economic ruin and turned the country into a cautionary tale for the world. Raúl Gallegos, a former Caracas-based oil correspondent, paints a picture both vivid and analytical of the country’s economic decline, the government’s foolhardy economic policies, and the wrecked lives of Venezuelans. Without transparency, the Venezuelan government uses oil money to subsidize life for its citizens in myriad unsustainable ways, while regulating nearly every aspect of day-to-day existence in Venezuela. This has created a paradox in which citizens can fill up the tanks of their SUVs for less than one American dollar while simultaneously enduring nationwide shortages of staples such as milk, sugar, and toilet paper. Gallegos’s insightful analysis shows how mismanagement has ruined Venezuela again and again over the past century and lays out how Venezuelans can begin to fix their country, a nation that can play an important role in the global energy industry. This paperback edition features a new introduction by the author.
Author: Carlos A. Rossi
Publisher: Springer
ISBN: 9783031346590
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
This book explains why Venezuela is so rich in natural resources - it has been producing oil since 1922 and harbors the largest oil reserves in the world - and yet it is also a failed nation of class-divided citizens exhibiting deep poverty in a corrupt, incompetent state. Venezuela is a bipolar nation, where two marked poles in the society exist which have historical origins and are mutually exclusive. The book provides an overview of Venezuela's history, economy and politics and explains the context and implications of the bipolar poles, known as the elite pole and the resentful pole. Both, it shows, have done serious harm to Venezuela’s prosperity. The author describes the vicious circle of oil wealth, corruption, inefficiency and world market dependency and gives recommendations for a better future.
Author: Ricardo Hausmann
Publisher: Penn State Press
ISBN: 0271064641
Category : History
Languages : en
Pages : 549
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Book Description
At the beginning of the twentieth century, Venezuela had one of the poorest economies in Latin America, but by 1970 it had become the richest country in the region and one of the twenty richest countries in the world, ahead of countries such as Greece, Israel, and Spain. Between 1978 and 2001, however, Venezuela’s economy went sharply in reverse, with non-oil GDP declining by almost 19 percent and oil GDP by an astonishing 65 percent. What accounts for this drastic turnabout? The editors of Venezuela Before Chávez, who each played a policymaking role in the country’s economy during the past two decades, have brought together a group of economists and political scientists to examine systematically the impact of a wide range of factors affecting the economy’s collapse, from the cost of labor regulation and the development of financial markets to the weakening of democratic governance and the politics of decisions about industrial policy. Aside from the editors, the contributors are Omar Bello, Adriana Bermúdez, Matías Braun, Javier Corrales, Jonathan Di John, Rafael Di Tella, Javier Donna, Samuel Freije, Dan Levy, Robert MacCulloch, Osmel Manzano, Francisco Monaldi, María Antonia Moreno, Daniel Ortega, Michael Penfold, José Pineda, Lant Pritchett, Cameron A. Shelton, and Dean Yang.
Author: Iselin Åsedotter Strønen
Publisher: Springer
ISBN: 3319595075
Category : Social Science
Languages : en
Pages : 368
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Book Description
This book is published open access under a CC BY 4.0 license. This book presents an ethnographic study of how grassroots activism in Venezuela during the Chávez presidency can be understood in relation to the country's history as a petro-state. Taking the contested relationship between the popular sectors and the Venezuelan state as a point of departure, Iselin Åsedotter Strønen explores how notions such as class, race, state, bureaucracy, popular politics, capitalism, neoliberalism, consumption, oil wealth, and corruption gained salience in the Bolivarian process. A central argument is that the Bolivarian process was an attempt to challenge the practices, ideas, and values inherited from Venezuela's historical development as an oil-producing state. Drawing on rich ethnographic material from Caracas' shantytowns, state institutions, as well as everyday life and public culture, Strønen explores the complexities and challenges in fostering deep social and political change.
Author: Rory Carroll
Publisher: Penguin Books
ISBN: 0143124889
Category : Biography & Autobiography
Languages : en
Pages : 326
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Book Description
Describes the leadership of Venezuela's elected president, Hugo Chávez, and his efforts to transform his country and paints a picture of his life based on interviews with ministers, aides, courtiers, and everyday citizens.
Author: Giuliano Garavini
Publisher: Oxford University Press, USA
ISBN: 0198832834
Category : Business & Economics
Languages : en
Pages : 445
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Book Description
The most comprehensive history of the Organization of the Petroleum Exporting Countries (OPEC) and of its members, this study takes the reader from the formation of the first petrostate in the world, Venezuela, in the late 1920s, to the global ascent of petrostates and OPEC during the 1970s, to their crisis in the late-1980s and early- 1990s.
Author: Fernando Coronil
Publisher: University of Chicago Press
ISBN: 9780226116013
Category : Business & Economics
Languages : en
Pages : 480
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Book Description
In 1935, after the death of dictator General Juan Vicente Gómez, Venezuela consolidated its position as the world's major oil exporter and began to establish what today is South America's longest-lasting democratic regime. Endowed with the power of state oil wealth, successive presidents appeared as transcendent figures who could magically transform Venezuela into a modern nation. During the 1974-78 oil boom, dazzling development projects promised finally to effect this transformation. Yet now the state must struggle to appease its foreign creditors, counter a declining economy, and contain a discontented citizenry. In critical dialogue with contemporary social theory, Fernando Coronil examines key transformations in Venezuela's polity, culture, and economy, recasting theories of development and highlighting the relevance of these processes for other postcolonial nations. The result is a timely and compelling historical ethnography of political power at the cutting edge of interdisciplinary reflections on modernity and the state.
Author: Jonathan Di John
Publisher: Penn State Press
ISBN: 0271076909
Category : Business & Economics
Languages : en
Pages : 215
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Book Description
Since the discovery of abundant oil resources in the 1920s, Venezuela has had an economically privileged position among the nations of Latin America, which has led to its being treated by economic and political analysts as an exceptional case. In her well-known study of Venezuela’s political economy, The Paradox of Plenty (1997), Stanford political scientist Terry Karl argued that this oil wealth induced extraordinary corruption, rent-seeking, and centralized intervention that resulted in restricting productivity and growth. What this and other studies of Venezuela’s economy fail to explain, however, is how such conditions have accompanied both growth and stagnation at different periods of Venezuela’s history and why countries experiencing similar levels of corruption and rent-seeking produce divergent developmental outcomes. By investigating the record of economic development in Venezuela from 1920 to the present, Jonathan Di John shows that the key to explaining why the economy performed much better between 1920 and 1980 than in the post-1980 period is to understand how political strategies interacted with economic strategies—specifically, how politics determined state capacity at any given time and how the stage of development and development strategies affected the nature of political conflicts. In emphasizing the importance of an approach that looks at the political economy, not just at the economy alone, Di John advances the field methodologically while he contributes to a long-needed history of Venezuela’s economic performance in the twentieth century.
