Venezuela 's Economic And Social Development Essay

When Christopher Columbus discovered the coast of Venezuela, he thought he had encountered an earthly paradise, today that grace land is ravaged by famine, inflation, scarcity, violence, social and political conflicts; “social implosion [being] driven by economic collapse, caused by shockingly self-destructive policy making” (Toro, 1). Venezuela’s antidemocratic government and its lack of foresight has created a severe economic crisis crumbling health care system and a lack of basic necessities and is jailing innocent people who object.

In recent years, an increasing number of professors, commentators, journalists, and teens on social media have claimed that capitalism has failed. What usually follows are suggestions to usher in a new wave of socialism, as if the chaos in Venezuela is somehow non-existent or something truly desirable.

Venezuela, located in the Latin American region, is a country that has been characterized by its abundance of oil reserve. A natural resource that has shaped the history and development of the country, affecting its economic, social and most important is political spheres. For many years Venezuela was controlled by authoritarian regimes. The country, being very important in the sense of geo-politics due to its abundance of oil, has been a key player in the international arena and most important, to those that for many years kept the country under their regime. It was not until 1958 that Venezuela experienced the change to democracy and a stable democracy was kept between the two main political parties of the time, Accion Democratica (AD)

The country of venezuela is hot, humid,and located in nothern south america.The capitol of venezuela is caracus. The name venezuela came from the explorer , alonso de ojedo ,because he admired how much it reminded him of venice. Earleist records of venezuela date back to march 30th 1845 when christopther made his third voyage in search of gold.Settlers would go to venezuela to trade for their resources because venezuela was known as the riches country.Venezuela would trade natural resiurces like : petroleum natural gas,iron ore gold minerals and diamonds.They first gained independence in 1811 on july 5th ; by the help of jose prudencio.

Simón Bolívar was born July 24, 1783 in Caracas, Venezuela. He was born into a wealthy family, who took their money from rich gold and copper mines they owned in Venezuela. At the age of three Simón Bolívar's father died, then six years later his mother died. After the death of his parents, he moved to Spain in 1799 where he continued his education and married a daughter of a nobleman, María Teresa Rodríguez del Toro y Alaysa in 1803, who later died of yellow fever during a visit to Venezuela.

him great perspective of a ruler. Venezuela was a significant oil exporter and in the 1980s, there

Venezuela is in a dyer state that is going to grow into a humanitarian danger to those who live in its borders. Due to the global value reduction of oil over the years, Venezuela, who has one of the world's largest oil reserves, cannot import the essential resources, such as food and animals, into its country. In fact, nighty-five percent of Venezuela's national income comes chastely from the black gold that they have a profuse amount of

In the present day immigration into Venezuela is welcomed and rather easy. The country continues to be a “magnetic pole” of sorts for immigrants. A number of reasons create this attraction including the simplicity of migration, ease of becoming an entrepreneur, the current political situation, and access to quality health care. According to 2010 World Bank statistics only 521,500 Venezuelans lived abroad while 1,007,400 people immigrated to the country. Venezuela is clearly a haven for immigrants. However, not all citizens are content with this fact and choose to emigrate elsewhere. A small percentage of the population, most typically those falling into the upper-middle class to upper class distinctions, have expressed discontent

Formerly under control from Dictator Hugo Chavez, and now currently under control by Nicolas Maduro, With an estimated 34.2% of the GDP accounting for the public debt, and an extremely high inflation rate of 56.2% in 2013 raising from 21.1% in 2012, it is obvious that the policies and programs aren’t working out for the country. Poor leadership in Venezuela has driven the country’s economy into a downward spiral. Having one of the larger resource endowments among the developing countries, it is questionable how there are so many problems with its economy. Since the 1920s Venezuela’s economy has been primarily driven by their vast availability of petroleum. Being a member of the OPEC, Venezuela’s main export is oil. The powerful oil industry in Venezuela is driven by their state-run petroleum company Petroleos de Venezuela S.A PDVSA. Venezuela sits on top of the world’s largest oil reserves and this oil based economy accounts for roughly 50 percent of government revenue, 95 percent of Venezuela’s exports, and 25 percent of Venezuela’s GDP, just in oil alone. With a population of 29.9 million people (estimated in 2012) the country has a per capita GDP of $12,756. Venezuela is highly dependent on oil revenues, these oil revenues account for around 96% of all export earnings. Venezuela’s development faces various challenges being a

Venezuela is located on the north coast of South America. It is a very interesting country, since it possesses many unique attributes and resources that other countries in the region do not. There are several different systems that represent these resources and attributes. Major Kris A. Arnold (2006) states “PMESII is (sic) military acronym listed in several joint and service publications, which evolved from a systems perspective, and equates to the political, military, economic, social, infrastructure, and information systems of states. The acronym provides a starting point for identifying key interrelated systems of an adversary and facilitates analysis and kinetic and non-kinetic targeting”. Venezuela is an especially interesting case due to the political system in place, in addition to the unique economic power that the nation has.

With an economy dominated by the production of oil, Venezuela has enjoyed the highest standard of living in Latin America. In spite of its success in the oil industry, agriculture and manufacturing also play important roles in Venezuela’s economy. With this in mind, it would seem as though Venezuela’s economic state has flourished. Rather, it has suffered from the effects of political influence, corruption, and poor economic management. The distribution of wealth across Venezuela has caused the elite to benefit at the cost of the working people. This is mainly due to the economic and political structure of the country. Even with the plentiful resources Venezuela possesses, it is constantly being threatened by political instability,

Venezuela currently has a population of 31 million people. Venezuela is still growing in numbers, and it’s getting harder for the government to provide health care for their people. Venezuela’s population is 1.9 times larger than South America. The country is mainly urban, and the wealth rate is declining. The resources per person needs to be the same, and as of now that’s not the case. Overall fertility rates are failing in Latin America. In 2015 the population was six times the size that it was in 1950, and the United Nations projects that it will be nine time larger by 2050, and still growing at that point, despite the long-term decline in fertility. (Latin America) Although there are many economic crisis in Venezuela, this isn’t preventing them from having children in higher numbers. This could be the shortage of health care.

The oil-rich Bolivarian Republic of Venezuela, located on the northern coast of South America, was for many decades considered among the wealthiest nations in the entire continent. While having the largest proven oil reserves in the world has often proved a tremendous boon for Venezuela, the very black gold that has been the cause of its success has also proven to repeatedly be its kryptonite. Over half of the nation’s Gross Domestic Product stems from petroleum exports – which equates to approximately 95% of total exports. It is really not too hard to imagine what drastic consequences shifts in global oil prices could have on the economy.

Venezuela has the most crude oil in the world yet it has not properly utilized their natural resources. They saw their most successful years under their socialist leader popularly known as Hugo Chavez. Mr. Chavez took power when the economy was in a downward spiral and he implemented his socialist views and with the help of the soaring oil prices which sums up to 93% of their foreign exports in 2000. The Venezuelan economy was solely reliant on the production of crude oil. Oil prices rose upwards 100$ a barrel and the government took little advantage of this situation to improve the country’s economy and infrastructure. Venezuela makes money only by selling oil. When the oil prices came down, household income came down too. There was barely money for anything. The government regulates basic daily perishable goods that are very cheap; people will have to stand in line for a long time to buy common goods. Some people wait in those lines buy the goods and then resell them for hundreds of percent of profit. Economically, the Venezuelan government has been no good. Experts are talking now about inflation, they are also predicting a hyperinflation could be on the way. There are still questions about whether this government can make its external sovereign debt payments over the next few years. There 's going to be a serious fiscal shortfall. Henceforth we are already aware of the shortages in the supermarkets. And that 's clearly taken a political toll on this government

Venezuela is currently facing the worst economic crisis in history. According to the International Monetary Fund, it has negative growth of -8%, the worst in the world and the worst inflation rate (482%). The current unemployment rate is 17% though this figure is expected to climb towards 30%. Venezuela is a country that is reported to have the worlds largest oil supply, a commodity that has a changing price based on supply and demand. Their ability to sell oil was a primary source of revenue for the government. Exporting oil was reported to be around 96 percent of Venezuela's total exports according to the World Bank. In 2014 the