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\nThe Economic Failure of Venezuela: The Oil Boom\n

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\n\nPublisher:\n\nEconomics Explained\n\n\n
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\nVenezuela. Once the richest country in all of Latin America, it is now home to the single greatest economic downturn for a country in modern history. In terms of countries that had it easy, Venezuela, by all counts, should be at the top...\nVenezuela. Once the richest country in all of Latin America, it is now home to the single greatest economic downturn for a country in modern history. In terms of countries that had it easy, Venezuela, by all counts, should be at the top of the list. It's home to the largest oil deposits in the world – easily beating out the typical oil giants like Saudi Arabia, Kuwait, and the United Arab eremites ... but they squandered it. A lot has been said about the political issues surrounding the downfall of Venezuela, and don’t get me wrong there have been plenty of political issues, but in this video, we will just focus on the fundamental economics behind Venezuela's unprecedented rise and its devastating fall.

Helping you become more knowledgeable about how the world works, our content covers the biggest topics and headlines through the eyes of economists. The team explores a wide range of subjects improving your ability to understand the world more clearly.
This is economics, explained.

The Economic Failure of Venezuela Part 1\n
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Resource Details

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Educator Rating
Not yet Rated
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Media Length
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4:59
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Grade
9th - Higher Ed
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Subjects
Social Studies & History
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Media Type
Instructional Videos
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Source:
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\nEconomics Explained\n\n
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Date
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2019
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Concepts

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government spending, venezuela, norway, corruption, workers, governments
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the economy of venezuela, the economics of venezuela, the economy of venezuela explained, the economics of venezuela explained, venezuela economics explained, economics explained venezuela, venezuela economy explained, venezuela economy, venezuela economy economics explained, venezuela economics, how the venezuelan economy works, venezuelan economics, venezuelan economy, venezuelan economy explained, venezuelan economics explained, economics explained, oil production, company, times, country, home, world, wrong, meant, monopoly, similar, investment, turn
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Best For: Explaining a topic
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