Title: The divided Venezuela

Authors: Nikolina Jankovic; Mariana Olvera Colin; Melissa Ari; Agnes Haidacher

Addresses: School of Business, Economics and Social Sciences, University of Graz, Universitätsstraße 15, 8010 Graz, Austria ' School of Business, Economics and Social Sciences, University of Graz, Universitätsstraße 15, 8010 Graz, Austria ' School of Business, Economics and Social Sciences, University of Graz, Universitätsstraße 15, 8010 Graz, Austria ' School of Business, Economics and Social Sciences, University of Graz, Universitätsstraße 15, 8010 Graz, Austria

Abstract: Venezuela is one of the biggest oil producers in the world. This seems, however, to have brought Venezuela much more trouble than it has helped the country to solve problems. With the discovery of oil in Venezuelan territory, the country developed and industrialised; nevertheless, it too became a focus of international interest. This brought to Venezuela a period of political stability with wealth for some and poverty for the majority. As popular unrest rose, Hugo Chávez came to power, a politician who declared war on capitalism and left a divided society and a country currently afflicted by a deep economic crisis. The main actors in this conflict and their interest were the subjects of our analysis.

Keywords: oil; Hugo Chávez; Nicolas Madura; economic crisis; capitalism; socialism; Venezuela; poverty.

DOI: 10.1504/IJFIP.2019.098377

International Journal of Foresight and Innovation Policy, 2019 Vol.14 No.1, pp.5 - 18

Received: 15 Jan 2018
Accepted: 25 Apr 2018
Published online: 18 Mar 2019 *

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