"Econ 102" with Noah Smith and Erik Torenberg cover image

Explaining Kamala’s VP Pick, the US Economy, Venezuela’s Fall and China’s Rise

"Econ 102" with Noah Smith and Erik Torenberg

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Venezuela's Economic Collapse: Leadership Failures

This chapter explores the economic decline of Venezuela, focusing on the detrimental policies of Hugo Chavez and the mismanagement of the state-owned oil company PDVSA. It examines how reliance on oil, cronyism, and poor leadership decisions led to hyperinflation, currency collapse, and a deepening economic crisis.

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