The Reproduction and Crisis of Capitalism in Venezuela under Chavismo

Content Provider	Semantic Scholar
Author	Dachevsky, Fernando Germán Kornblihtt, Juan
Copyright Year	2017
Abstract	The current crisis in Venezuela is sometimes said to have been provoked by the response of imperialism and the local oligarchy to the fundamental changes in economic and political relations fostered during the administrations of Hugo Chavez. A quantitative study using various statistical sources shows that the significant increase in oil rent during the Chavez presidency did not translate into a qualitative transformation in the form of state intervention and that, although social expenditures increased in that period, most of the income that allowed this was obtained through currency overvaluation by inefficient national and foreign capital. The current crisis is, therefore, evidence of the limits of low-productivity state and private capital reproduction due to the decline in oil prices rather than of a conflict between overcoming and reproducing capitalism in an alleged “economic war.”A veces se dice que la crisis actual en Venezuela ha sido provocada por la respuesta del imperialismo y la oligarquia l.
Starting Page	78
Ending Page	93
Page Count	16
File Format	PDF HTM / HTML
DOI	10.1177/0094582X16673633
Volume Number	44
Alternate Webpage(s)	https://cicpint.org/wp-content/uploads/2017/11/Dachevsky-Kornblihtt_2017_The-reproduction-and-crisis-of-capitalism-in-Venezuela.pdf
Alternate Webpage(s)	https://doi.org/10.1177/0094582X16673633
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article