Stephen Tate
Econ 200
Current Event: The Economic Crisis in Venezuela
The economic situation in Venezuela is truly parlous. The country with a population of roughly thirty-one million people is having mass shortages of food, and common necessities such as toilet paper. Yet the reason for this economic crisis is years in the making, and has to deal with very much the political system adopted within the country. According to The Guardian and writer Julian Borger the oil rich country is facing a negative economic growth rate of (-8%). That would put it as the worst economic growth rate in the world, even behind North Korea. The article references the massive corruption within the country. Although the country is turning toward a more socialist
Econ 200
Current Event: The Economic Crisis in Venezuela
The economic situation in Venezuela is truly parlous. The country with a population of roughly thirty-one million people is having mass shortages of food, and common necessities such as toilet paper. Yet the reason for this economic crisis is years in the making, and has to deal with very much the political system adopted within the country. According to The Guardian and writer Julian Borger the oil rich country is facing a negative economic growth rate of (-8%). That would put it as the worst economic growth rate in the world, even behind North Korea. The article references the massive corruption within the country. Although the country is turning toward a more socialist