The Intelligence from The Economist Lights out: Venezuela’s blackout
Mar 14, 2019
Stephen Gibbs, an Economist correspondent in Caracas, provides a harrowing view of Venezuela's power outages, revealing how the chaos endangers lives and reflects rampant corruption under Maduro. He discusses the severe consequences for healthcare and daily life amidst widespread anger from citizens. Meanwhile, Robert Alter, an esteemed scholar, shares insights from his acclaimed new translation of the Hebrew Bible, emphasizing its literary richness and cultural significance. The contrast between Venezuela’s despair and the beauty of biblical literature makes for a compelling conversation.
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Maracaibo's Crisis
- In Maracaibo, the lack of power has created a "survival of the fittest" situation.
- Butchers sell rotting meat for $4 in US cash due to the collapsed banking system and lack of local currency.
Power Outage Cause
- The power outage's cause is disputed: Maduro claims a US cyberattack.
- The opposition blames long-term electrical system disintegration.
Venezuela's Decline
- Venezuela's electrical generation capacity hasn't kept up with population growth.
- Crony capitalism hindered system improvements, while low agricultural productivity and the economic crash have caused food shortages.
