logo
episode-header-image
Aug 2024
17m 42s

The Most Mismanaged Economy in the World

Economics Explained
About this episode

Venezuela, a nation blessed with the largest oil reserves in the world, has shockingly transformed from potential powerhouse to economic disaster. In this video, we dive into the mismanagement that led to a collapse so severe that international agencies stopped tracking it. Explore how internal failures and external pressures pushed this once-promising country to the brink, and whether there's any chance left for a recovery.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Up next
Aug 11
Why do We Still Need to Work?
A century ago, economist John Maynard Keynes confidently predicted that by 2030, we would only be working 15 hours a week. Yet, here we are—working harder than ever! While technology has dramatically boosted productivity, our work hours remain largely unchanged, and the prevalenc ... Show More
15m 56s
Aug 5
Do We Still Need Central Banks?
Almost every nation relies on a central bank, but the US is buzzing with talk of scrapping the Fed—the globe’s mightiest financial force! From its 1694 origins to battling today’s debt and inequality crises, we break down why central banks are crucial and what chaos could unfold ... Show More
18m 39s
Jul 21
Iran's Economic Dilemma
Iran boasts vast oil reserves, a strategic trading position, and a skilled workforce; however, sanctions and internal issues hinder its progress. From black-market oil to power outages, discover why this energy giant struggles to thrive. Can it break free from its economic troubl ... Show More
16 m
Recommended Episodes
Apr 2025
Le capitalisme peut-il survivre à la crise de la fertilité ?
Et si votre shampoing mettait en danger l’économie mondiale ?Non, ce n’est pas un complot capillaire. Mais ce qu’il contient – comme des perturbateurs endocriniens – pourrait bien expliquer une crise bien plus grave qu’il n’y paraît : la chute de la fertilité. Moins d’enfants, un ... Show More
9m 35s
May 23
Is this the time of monsters — or miracles? | Angus Hervey
Headlines warn of a world in collapse, but solutions journalist Angus Hervey finds the overlooked triumphs that never make the news — from the rollout of malaria vaccines to the recovery of sea turtles. With hard data and stories from the frontlines, he reveals the hidden progres ... Show More
12m 8s
Jun 2020
Musical chairs for the global economy
It's musical chairs for the global economy - and not everyone can end up with a desk. The global economy will contract by six per cent this year with mass business failures and bankruptcies, according to the OECD. Also today: The US Federal Reserve says it will support the world’ ... Show More
18m 45s
Aug 18
The brilliance of an economy that protects healthy forests | Ilona Szabó de Carvalho
Over the last 40 years, Brazil has lost an area larger than California to deforestation — and 90 percent of the clear-cutting has been illegal, all part of a multi-billion-dollar global environmental crime economy. Civic entrepreneur Ilona Szabó de Carvalho sees this crisis as an ... Show More
10m 32s
Oct 2024
Will the end of economic growth come by design — or disaster? | Gaya Herrington
What if solving poverty, caring for nature and fostering well-being were the ultimate goals of the economy, instead of growth for its own sake? Environmentalist and economist Gaya Herrington proposes a shift in thinking from "never enough" to "enough for each," asking us to conte ... Show More
13m 23s
Sep 2024
Egypt: Stability Lays Groundwork for Transformation
With all the instability within the Middle East and North Africa region of late, Egypt has nonetheless managed to reign in soaring inflation and win its largest-ever foreign investment. Egypt’s efforts to restore macroeconomic stability in recent years have led to an arrangement ... Show More
20m 8s
Dec 2024
Pourquoi les pays riches en pétrole finissent souvent pauvres ?
Pourquoi les pays riches en pétrole finissent-ils souvent dans la pauvreté ?C’est le paradoxe de la malédiction des ressources : quand la richesse naturelle devient un poison économique. Aujourd’hui, on décrypte ce concept fascinant avec les exemples du Venezuela, de la Russie de ... Show More
9m 12s
Jan 2025
Is India the world's next economic superpower?
India has the world's largest population, but can it be the next global economic superpower? Or will extreme poverty, inequality, unemployment, and lack of industrialization and manufacturing capacities hold it back? Why is the Western media so eager to portray India as a pro-Wes ... Show More
1h 45m
Nov 2023
Could a Housing Recession Take Down the U.S. Economy?
One year ago, it was a matter of conventional wisdom among experts that the U.S. was on the brink of a recession. They were wrong. The latest GDP report showed America’s real output growing at a 4.9 percent annualized rate. That's huge. But just as we zagged a year ago, when we c ... Show More
37m 1s
Jan 2024
What a difference a year makes
Expectations for 2023’s economy were rather sour — and what delivered blew predictions out of the water. But what are economists anticipating for the year ahead? Plenty of high hopes, including predictions of a rising S&P 500 index, falling inflation, lower interest rates and an ... Show More
7m 17s