I am fascinated by closed economies. One of these is Venezuela, where the main driver of the economy has been oil. However, Venezuela's economy is ravaged by hyper-inflation, chronic shortages of basic goods, stifling currency controls, and plummeting global oil prices. A recent Fortune article "4 Steps To Fix Venezuela's Economy" outlines the economic problems the country faces, and proposes four steps to stabilize the economy. It's an interesting article, and worth a read.
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