Re: [Marxism] Venezuelan economy in great shape

["rrubinelli" <rrubinelli@xxxxxxxxxxxxx>]

Well, not exactly--  THEN
1.  "Sowing the oil" has been an enduring them in Venezuela since 1917.
Nothing new here.
 2.  Venezuela did in fact "benefit" from the OPEC price spikes of 1973
and 1979, or at least the bourgeoisie reaped the benefits.  Inequality
increased as did general immiseration of the population.
3.  Certain nationalist,  "populist" measures were financed during this
period and through the early 1980s by increased oil prices.  4.  Debt
levels also increased.
5. The national efforts at industrialization and diversification were
smothered by the generalized overproduction of the 1980s, which for
Venezuela was driven home and to the breaking point by the collapse in
oil prices.

And NOW

1. Sowing the oil is still  as inadequate a tactic as it has been in the
past, given the nature of capitalist production and the overwhelming
importance of oil prices to attempts at development and diversification.

2. Dependence upon the price of oil has increased in Venezuela, not
decreased.

3. Internal price controls are driving the bourgeoisie into their
favorite, or near-favorite, tactics of lock-out, shutdown, abandonment,
and sequestering.  Think peasants and grain when faced with requisition.

4. In general, Latin American countries of all political types have
"prospered" in the last 2 years to an overall increase in prices for
mineral, and agricultural commodities--coal, iron ore, copper, tin, oil,
sugar, (I think coffee, too, but haven't checked).  Market prices are
just that, market prices-- oscillations within the movement of capital
pushing profit into one sector, only to drain it into another.  Watch
what happens in the next year or two, when oil and commodity prices
tumble.

rr
----- Original Message -----
From: "Louis Proyect" <lnp3@xxxxxxxxx>
To: <marxism@xxxxxxxxxxxxxxxxxxx>; <PEN-L@xxxxxxxxxxxxxxxx>
Sent: Thursday, March 16, 2006 9:46 AM
Subject: [Marxism] Venezuelan economy in great shape



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