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Author: Leith Kusmider

Co-Authors: Yaisy Tejada, Nic Sblano, Carly Janelle Fant

Venezuela has become a political polarized state after the emergence of Hugo Chavez as president in 1999. Chavez and his strong socialist ideals rallied the nation and was labeled as the Bolivarian Revolution. Chavez funneled billions of dollars into new social programs, education, and infrastructure (O’Brien 2016).

Today Chavez’s legacy lives on but the economy of Venezuela has failed. Much of the Venezuelan economy is dependent on oil production and as oil prices have fallen and oil production has fallen by as much as 25% between 1999 to 2013 (O’Brien, 2016), the economy has suffered as a result. Nicolas Maduro, Chavez’s handpicked successor, has attempted to patch up the economy by printing more money and continue spending. As a result, Venezuela has seen inflation reaching 800% (“Venezuela” 2016). Maduro has responded to inflation by setting government controlled prices for food and other necessities.

 

Customers line up to get in for shopping at a state-run Bicentenario supermarket in Caracas May 2, 2014. President Nicolas Maduro is introducing a controversial shopping card intended to combat Venezuela's food shortages but decried by critics as a Cuban-style policy illustrating the failure of his socialist policies. Maduro, the 51-year-old successor to Hugo Chavez, trumpets the new "Secure Food Supply" card, which will set limits on purchases, as a way to stop unscrupulous shoppers stocking up on subsidized groceries and reselling them. REUTERS/Jorge Silva (VENEZUELA - Tags: POLITICS BUSINESS SOCIETY TPX IMAGES OF THE DAY)

Washington News Post Picture: Inflation and food shortages have resulted in long lines and hours of waiting to buy groceries.

Venezuela has seen horrific levels of violence and corruption since the economy failed, many people hang on to the legacy of the Bolivarian Revolution and others have looked for alternatives. The Opposition party being the most popular competitor to Chavez’s socialist party, has gained popularity (Cawthorne 2016).

In January of 2016, new elections were held and the Opposition party gained the majority of seats in congress. While the congress is now controlled by the Opposition, president Nicolas Maduro still remains in power. The division of government has made an inefficient government even more impeded.

Riots and protests have broken out as the members of the Opposition along side students and other citizens, take to the streets (Cawthorne 2016). The protesters do not all identify as the Opposition, some are even Chavistas but the failed state has spurred political unrest. Violence and corruption continues in Venezuela and many are waiting to see how the new Opposition government reacts to the current situation.

Many Venezuelans, whether they identify as Chavistas or as the Opposition, have felt that the government has neglected them in times of need. With food shortages, violence and corruption becoming part of everyday life in Venezuela, many people no longer feel they can turn to the government for assistance. This begs the question, how long can this government maintain legitimacy and what would a failed state mean for the people of Venezeula.

 

Factoid Questions:

Who came to power after Chavez?

How has the economy changed since then?

What internal and external pressures have put excessive strain on the Venezuelan economy?

What party has recently come to power within Congress?

 

Works Cited:

O’Brien, Matt. “Venezuela is on the Brink of a Complete Economic Collapse” (2016). The Washington Post. Web. 22 Feb. 2017.

“Venezuela Inflation Rate” (2017). Trading Economics. Web. 22 Feb. 2017.

Cawthorne, Andrew and Chinea, Eyanir. “Venezuelan Legislature Launches Trial Against Maduro” (2016). Reuters. Web. 22 Feb. 2017.