Episode 260: Shortages at Home, Starvation Elsewhere
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Is There a Way Out?
Venezuela has the most oil of any country in the entire world, but its government hasn't behaved well. The rule of law and property rights make entrepreneurs feel comfortable to start up something even though they have no consumers. When you've misbehaved as a nation, nobody's coming in with any kind of investment until you prove that it'll be safe.
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