Category: Venezuela

In October 2013, I am travelling to a country in turmoil. In the Spanish American war of independence, Venezuela was one of the first territories to declare its independence in 1811 but that independence was only gained in 1821 as a part of the federal republic of Gran Colombia. Simón Bolívar, the libertador, the towering South American independence hero was born in Caracas. A century later, during World War I, oil was discovered which transformed the Venezuelan economy. In 1960, Venezuela’s GDP per capita stood at 1,138 $ which put it worldwide on rank 18 and higher than countries like the Netherlands, Austria and Italy. Unfortunately, Venezuela’s elites were not able to transform this oil wealth into proper economic development. In the Spanish American war of independence, Venezuela was one of the first territories to declare its independence in 1811 but that independence was only gained in 1821 as a part of the federal republic of Gran Colombia. Simón Bolívar, the libertador, the towering South American independence hero was born in Caracas. A century later, during World War I, oil was discovered which transformed the Venezuelan economy. In 1960, Venezuela’s GDP per capita stood at 1,138 $ which put it worldwide on rank 18 and higher than countries like the Netherlands, Austria and Italy. Unfortunately, Venezuela’s elites were not able to transform this oil wealth into proper economic development. […]

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