ACC Archives

Tag: Venezuela
Crony Capitalism at Its Most Heartless

Former Venezuelan National Treasurer, Alejandro Andrade, accepted more than $1 billion in bribes while watching his country’s economy disintegrate and its citizens go without food and medicine.

Venezuela’s inflation rate just hit 830,000%

From Venezuela was once a relatively rich country. It had a solid middle class, a robust oil industry, reasonably good property rights, and on the whole was solidly the “emerging economies” camp. The same could be said of Zimbabwe...