Basic Economics: A Look Into What Happened to Venezuela

Written by: Aaditya Kumar Inflation is synonymous with increasing prices, but it also means a decrease in a currency’s purchasing power. Typically a country tries to keep inflation under 10%, but when adverse economic shocks hit, the rates can spiral out of control. A more extreme version of inflation, hyperinflation, is marked by inflation exceeding…

Venezuela and The Resource Curse

Written by: Aditi Poduri The political and economic crisis in Venezuela has been a subject of debate among Western political pundits recently, with many conservative voices pointing to the crisis as proof that socialist policies lead to ruin. These arguments are persuasive; President Hugo Chavez undertook costly social welfare programs, and his popularity among the…

American Response Weakens as Venezuelan Migrant Crisis Worsens

Written by: Eva Branson Every day, 5,000 Venezuelans flee their homes. Since 2014, the total number of Venezuelan citizens-turned-refugees has escalated to a staggering 2.3 million, or about 7% of Venezuela’s total population. These individuals are fleeing widespread hunger, excruciating economic deprivation, and mounting authoritarian repression. To date, the international community has contributed millions of…

Venezuela Drone Assassination Attempt

Written by: Adrian Douglas Arcoleo Venezuelan President Nicolás Maduro claims to have survived an assassination attempt by two explosive unmanned aerial systems. The alleged attempt occurred during a speech at a military event where government officials claimed two drones armed with explosives detonating in the air. Video of the speech shows the president and his…