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" ... Inovev said the unprecedented nature of the coronavirus, with drastic measures reminiscent of wartime like nationalizations, debt cancellation, and movement restrictions, make it difficult to build realistic forecasts. ... "
" ... The fact is that Venezuela, while still pumping oil, no longer has a functioning economy. Seventeen years of nationalizations and confiscation of private industries, farms, cattle ranches, distribution companies, sugar mills, and even shopping malls have completely destroyed not only the local production, but the distribution networks necessary for the normal functioning of the economy. ... "
" ... Venezuela’s playbook of the sum of all failed policies begins with a wave of nationalizations and labor market regulations back in the late 1970s, “long before Hugo Chavéz came to power, making conditions even worse,” says Dr. Rainer Zitelmann, sociologist, historian and author of the upcoming book, The Power of Capitalism. “One of the reasons for Venezuela’s problems was the unusually high degree of government regulation of the labor market.” ... "