Why is venezuela failing?

Following Venezuela closely means hearing any number of stories like these. The happy, hopeful stage of Venezuela’s experiment with Chavez’s 21st-century socialism is a fading memory. What’s been left is a visibly failing state that still leans hard on left-wing rhetoric in a doomed bid to maintain some shred of legitimacy. read more

In particular, he failed to effectively tackle corruption, dismantle currency controls after they had served their purpose, and wean Venezuela from its extreme dependence on oil. The government has taken a series of actions that could be characterized as “socialistic,” although many of these measures are more accurately described as social democratic. read more

Venezuela already has the world's second-highest murder rate, and now the Chavista regime seems to be threatening violence of its own if the opposition succeeds in recalling President Nicolás Maduro. It's a grim race between anarchy and civil war. This is an entirely man-made catastrophe. Venezuela, by all rights, should be rich. read more