Venezuela — Primer on the economic collapse

A lecture by Roberto Rigobon on how we got to where it is in Venezuela.

The third constitution — ever — was written in Venezuela. Additionally, use of the term “social security” as a responsibility of the state was first introduced in Venezuela in 1818. Between 1945 and 1965, Venezuela had the second fastest growth rate in per capita GDP (after Japan), the second lowest inflation rate (after Germany), and the lowest interest rate, not to mention good weather (which clearly defines paradise).

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