Ep. 3 | Tracing the Origins of Venezuela's Economic Collapse (with Daniel Di Martino)

In the 1970s, Venezuela had the highest growth rate and lowest inequality in Latin America. Today, Venezuela is the poorest nation in the Western Hemisphere, where 96.4% of the population now lives below the poverty line and on less than two dollars a day.

What led to the total collapse of Venezuela's economy in less than a decade? Was it mismanagement? Sanctions? Or was it the central planning philosophy of "21st Century Socialism" championed by Hugo Chávez to advance his Bolivarian Revolution agenda that ultimately set Venezuela on a downward spiral toward nationwide abject poverty?

In this episode we're joined by Daniel Di Martino, a syndicated Venezuelan economist, incoming PhD student, and research associate at the University of Kentucky's Institute for the Study of Free Enterprise. We begin with Daniel's experience growing up under Venezuela's authoritarian framework and later review the failed economic policies that drove the country to disaster. Join us as we listen to Daniel's thoughts on the efforts of the Juan Guaidó-led interim government, and consider whether Venezuela will learn from the mistakes of the Chavéz/Maduro regime, or if history is doomed to repeat itself after this dark chapter in Venezuela's history comes to a close.

Twitter: @DanielDiMartino www.danieldimartino.com