Why Is Venezuela in Crisis?
Second, while Venezuela has moved away from free-market capitalism, its economy is hardly socialist. The private sector, not the state (and still less the social economy), controls the overwhelming majority of economic activity. Between 1999 and 2011, the private sector’s share of economic activity increased, from 65 percent to 71 percent.
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It's almost like the neocon/neoliberal attitude towards Venezuela is all bullshyt based around the petro state

