Thursday, January 30, 2020

Venezuela's Economy Improves as It Begins to Rely More on the Market System


Two money quotes (WSJ, Jan 2020):

  1. "The country’s authoritarian president, Nicolás Maduro, who received political training in Cuba and publicly exalts the glories of socialism, has begun allowing companies to operate with a freer hand, according to business owners and economists." 
  2. "Venezuela remains an economic basket case. Its economy contracted by 60% during Mr. Maduro’s tenure and is widely predicted to shrink another 10% this year. But business people say they are experiencing the first signs of an economic rebound."

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