Tag Archives: mismanagement

A Story About Corruption, Mismanagement and Abuse of Power 

In 1950, when the global economy was struggling to recover from World War II, Venezuela had a GDP per capita of 7’425 USD, making the oil-rich South American nation, the world’s fourth-wealthiest country, exceeded only by the United States, Switzerland and New Zealand. Venezuela’s per capita income then was nearly four times higher than Japan’s (1’873 USD ), almost 75% …

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