Steady-State Economy: Venezuela
Notes Wikipedia Crisis in Venezuela An ongoing socioeconomic and political crisis began in Venezuela during the presidency of Hugo Chávez and worsened under his successor Nicolás Maduro . It has been marked by hyperinflation , starvation, [ 57 ] disease, crime, and mortality rates, resulting in massive emigration . [ 58 ] Food shortages and hyperinflation have ended, but inflation remains high. It is the worst economic crisis in Venezuela's history and considered more severe than the Great Depression in the United States Economy of Venezuela a developing socialist economy strongly dependent on its natural resources. Its economic growth is closely linked to petroleum , as the country holds the largest crude oil supply in the world. Venezuela was historically among the wealthiest economies in South America, particularly from the 1950s to 1980s. Hyperinflation in Venezuela...