Book Review: Things Are Never So Bad That They Can’t Get Worse
A journalist tracks Venezuelan history from boom to bust—and reveals the causes of today’s “tragic impasse.”
On Venezuelan Twitter and WhatsApp chats, there’s a specific genre of meme poking fun at the idea that Venezuela se arregló (“Venezuela is fixed”). As ad-hoc dollarization and economic liberalization have replaced the country’s hyperinflation and shortages, some claim that the worst is over when it comes to the country’s economic problems. But Venezuela is far from being fixed. A recent local survey found that 95% of the population is poor, while 76% live on less than $1.20 a day. How did things end up this way Things Are Never So Bad That They Can't Get Worse: Inside the...
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