I have spent some time trying to understand the situation in Venezuela. How could a country with such natural wealth end up in so much economic trouble? Most of the articles I found seemed to cast the problem in political terms. The conservatives were corrupt and stole all of the oil money. The socialists were corrupt and stole all the oil money. I suppose both could be true.
A friend from Iran recently used the term Black Curse for oil, The article I just read used the same term several times. I suppose that is a good way to look at it, Throw a group of people of any sort into a vast supply of easy money, and watch things go down hill.
The article below isn’t ‘impartial’, but it does seem to be factual (it is a book review of a biography of Hugo Chavez). A good read if you are interested in how things got so bad in Venezuela and how it could happen in other places. From the London Review of Books, from a few years back (it turned up in a mailing I get):
Down from the Mountain
Greg Grandin


My wife mentioned this to me today. Found an article on it on Business Insider Nordic. Turns out CostCo is sold out, but you can get it on Amazon, too.