IS ECONOMIC CRISIS IN VENEZUELA A GLOBAL ISSUE?

venezuela economy

Venezuela has the largest oil reserves any country could have in the world. It is their oil refineries that had helped Venezuela to eliminate poverty and inequality for the country. Chavez decided to spend the money coming from oil in the various program established to reduce inequality and poverty. Thus, oil […]

CAUSES OF VENEZUELAN CRISIS

venezuela crisis

Venezuela is known for the greatest oil reserves in the world. The country had such huge trade benefits from the export of oil. In fact, during the late 1990s, Chávez; president of Venezuela established a number of social programmes in Venezuela known as the “Misiones” with the money coming from oil. […]

Introduction to Mixed Economic System

Mixed Economic System

A system that has combined aspects of both socialism and capitalism is called Mixed Economy system. This type of system aims to protect private properties and it also allows the level of economic freedom in the use of capital. Similarly, it also allows government interference in all the activities related to […]