Source: EconLog
by Leonida Zelmanovitz
“The recent removal of Nicolás Maduro from Venezuela’s presidency is a dramatic development after more than two decades of socialist experimentation under Hugo Chávez and Maduro, characterized by expropriation, macroeconomic mismanagement, and political repression. Although there is much uncertainty about the economic and political future of Venezuela, economics can offer some guidance — and warnings. One such lesson has to do with the dangerous temptation to base economic recovery solely on the oil sector. Venezuela’s prospects depend critically on the quality of its institutional and policy choices from now on.” (01/13/26)
https://www.econlib.org/econlog/avoiding-the-resource-trap-in-post-maduro-venezuela