Overview

This book explains why Venezuela is so rich in natural resources—it has been producing oil since 1922 and harbors the largest oil reserves in the world—and yet it is also a failed nation of class-divided citizens exhibiting deep poverty in a corrupt, incompetent state. Venezuela is a bipolar nation, where two marked poles in the society exist which have historical origins and are mutually exclusive. The book provides a critical analysis of Venezuela's history, economy and politics and explains the context and implications of the bipolar poles, known as the elite pole and the resentful pole. Both, it shows, have done serious harm to Venezuela’s prosperity. The author describes the vicious circle of oil wealth, corruption, inefficiency and world market dependency and gives recommendations for a better future.

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9783031346620

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Carlos A. Rossi is a Venezuelan economist with degrees from the American University in Washington DC and the University of Sussex in the UK. He has four decades of continuous academic and professional experience in development, trade integration, macroeconomics, international finance, diplomacy, petroleum, and history. He has worked for the Venezuelan government, the Andean Development Corporation, the Venezuelan Embassy in the United States, the Venezuelan National Oil Company PDVSA, the Venezuelan Association of Hydrocarbons, and consulting firms, including his own Caracas-based EnergyNomics since 2013. Carlos A. Rossi has taught basic economics, political economy, development finance and petroleum economics at four different universities in Caracas, and is the author of four books, two published in Venezuela, one published by a prestigious academic publisher in New York City, and this one published by the prestigious Springer publisher in Germany.

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