Binding Constraints, or why the Venezuelan Economy is Screwed
An explanation for non-economists on how, even if you solve all the macro-problems, the economy is still going to suck because the micro-framework is screwed up as well.
Economy
How Multinationals Peace-Out
Multinationals are selling their Venezuela operations, sometimes for 0 cash in return. Viva Chiabes!
El diálogo de la avena y el pan
Ante las mismas colas, la misma preocupación que nos ocupa para conseguir comida o medicinas, lo único que se me ocurre pensar es que nada pasará.
Monopoly Money
Calling the bolivar "Monopoly money" is an insult...to Monopoly money.
The failure of the Misiones on poverty reduction
It's no mystery that Misiones are not sustainable. They create dependency and do not even properly focus on those who really need them. But the devastating effects of this failed social policy are beyond what you would imagine.
Why the black market dollar's gone haywire
The recent spike in the black market dollar has taken some by surprise. It shouldn't have: the minute we heard Maduro talking about messing with the banks' reserve requirement to fund "urban agriculture", we reached for our wallets.
ICYM: Reports of the death of the price control regime are greatly exaggerated
Official prices are rising. This means the government must've come to its senses and started lifting price controls, right? Not at all! Pedro Rosas leads you on a guided tour of a crazy system.
Eight Reforms to Revive Venezuela's Hydrocarbon Industry
After several years of gradual decline, Venezuela’s oil production has gone into an accelerated tailspin this year. These eight reforms can bring it back from the brink.
Dawn of Venezuela's Minimum Wage... Again
It's not that we want to be deliberately repetitive... It's just that the government keeps doing the same stupid thing.
PDVSA Swap: The Poker Game that Never Should Have Been
Eulogio del Pino tried to do a #TropicalMierda mob impression, but had to accept a swap that fell well short of his goals. In the end, it was Wall Street that made him an offer he couldn’t refuse.
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