Inflation in venezuela's running at a thousand %. In previous eras, there was a similar inflationary spiral that ran a thousand%. These were not governments that called themselves socialists or acted in a socialist way. This is just if you like the mechanics of the venezuelan state and its sort of inability to kind of manage the boom bust of international commodity prices.
Rupert Russell and Isabella Weber discuss Russell's book Price Wars: How the Commodities Markets Made Our Chaotic World and also the current politics of inflation.
Listen to Weber discuss her book How China Escaped Shock Therapy: thedigradio.com/podcast/how-china-escaped-shock-therapy-w-isabella-weber/
Look at Rupert's precious puppy: twitter.com/rupert_russell/status/1511428696409837573?s=20&t=OPVNgfXuokFY6ZQYRkxe4g
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