Organized crime and corruption

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Western Kentucky University *

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434

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Political Science

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Dec 6, 2023

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Venezuela's Descent into Crisis: Unraveling the Web of Corruption, Economic Mismanagement, and Global Influence Odeth Betancourt Western Kentucky University CRIM 434 Organized Crime Instructor: James Kanan November 27, 2023

Venezuela's Descent into Crisis: Unraveling the Web of Corruption, Economic Mismanagement, and Global Influence As the 20th century drew to a close, Latin America bore witness to legacies of authoritarian rule, insurgency, and human rights violations. Amidst this regional backdrop, Venezuela's historical narrative stands distinct, characterized by a nuanced interplay of political, economic, and social factors that have converged to precipitate a profound crisis. This essay contends that corruption, deeply embedded in the nation's past, has played a central role in shaping Venezuela's trajectory. Through a meticulous examination of the historical evolution of corrupt practices and their far-reaching impacts on political structures, economic dynamics, and social fabric, this essay unravels the web of factors contributing to Venezuela's descent into crisis. The repercussions of corruption are far-reaching, fostering a culture of impunity and weakening essential governance institutions. As Venezuela grapples with economic and political turmoil, a multifaceted analysis explores historical oil dependence, economic mismanagement, and the international dimensions of organized crime and corruption. The spotlight turns to the Fabulous Five — Russia, China, Cuba, Iran, and Turkey — examining their roles in perpetuating corruption and influencing Venezuela's domestic situation. The roots of corruption in Venezuela can be traced through a tumultuous history marked by key events. From early political instability to the 20th-century oil boom, various elements contributed to the development of corrupt practices. The impact of corruption on Venezuela's political, economic, and social landscape has been profound, fostering a culture of impunity and weakening crucial governance institutions.

Venezuela's descent into economic and political crisis is attributed to a combination of factors. Historically dependent on oil revenues, the decline in oil prices, massive social spending, U.S. sanctions, economic mismanagement, and corruption have contributed to the nation's collapse. The historical reliance on oil, dating back to its discovery in 1922, brought significant wealth but masked underlying issues such as a weak agricultural sector, land monopolies, and a lack of national economic integration, as highlighted by Kiger (2023) In 1958, after the overthrow of Marcos Pérez Jiménez, the Punto Fijo Pact established a power-sharing agreement, centralizing oil revenues. The 1973 OPEC embargo brought wealth, but oil nationalization in 1975 and the 1989 IMF bailout set the stage for economic challenges. Hugo Chávez's 1998 election marked a shift towards populism (Kiger, 2023), with social spending funded by oil profits. Despite efforts to diversify the economy, Venezuela remained heavily dependent on oil, and neglect led to declining production. Nicolás Maduro, succeeding Chávez in 2013, faced economic decline, political unrest, and international criticism. His consolidation of power and arrests of opposition leaders deepened the crisis. In 2019, opposition leader Juan Guaido declared himself interim president, sparking a power struggle. The collapse results from historical oil dependence, economic policies, corruption, and political turmoil. This section investigates the international dimension of organized crime and corruption, focusing on the Fabulous Five: Russia, China, Cuba, Iran, and Turkey. These countries play a pivotal role in supporting or benefiting from illicit activities within Venezuela, contributing to the perpetuation of corruption. The relationship between Caracas and the Kremlin is intricately woven into the energy sector. “Russian energy giants formed alliances with Venezuela's state oil

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