This podcast episode explores the historical, economic, and political factors behind Venezuela's crisis, tracing its journey from oil-driven prosperity under Hugo Chavez to today's hyperinflation and currency collapse. It examines the pitfalls of mismanaged resource wealth, highlighting the country's dependence on oil imports and fixed exchange rates, which led to a thriving black market and increased economic instability. Although there are recent signs of recovery through dollarization and remittances, the episode paints a grim picture marked by inequality and uncertain reform efforts, showcasing the challenges of a nation striving to regain its former stature.
