Venezuela’s ruined agricultural industry

Closely following the steps of their Cuban idols, Chavismo has managed to ruin one of the leading agricultural producers in out hemisphere, which has taken a dive, along with the country’s industrial output.

U.S. Rice Farmers Cash In On Venezuelan Socialism
U.S. Exporters Benefit as Production Falls in Latin American Country

Overall, Venezuelan imports have quadrupled since Mr. Chávez took office, to $59.3 billion in 2012 from about $14.5 billion in 2000, according to Venezuela government figures and economists at Barclays PLC. Exports to Venezuela from the U.S. hit $12 billion in 2011, up 16% from the previous year, the latest U.S. government figures show.

That’s what happens when you move from a demand economy to a command economy.

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2 Responses to “Venezuela’s ruined agricultural industry”

  1. The third Monday in August Carnival of Latin America and the Caribbean | Fausta's Blog Says:

    [...] « Venezuela’s ruined agricultural industry [...]

  2. NotClauswitz Says:

    Let me guess, the US rice-farmers probably ALSO receive agricultural subsidies – and some may even “farm” from their loft in Lower Manhattan…