alt Hacker NewsThat was the policy that allowed him to build a social welfare state for people tired of being exploited. Famine decreased, life expectancy increased, and the HDI became high. Unfortunately, this ended when the country was sanctioned and embargoed.
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mensetmanusman • 01/03/2026
As it was all collapsing because no one cared enough to make oil to support those things?
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Why do these strong, socialist countries anyways need US trade to function?
The Venezuelan economy was dying before the sanctions.
Burning the economy to hand out free money isn't good for the people.
Maduro and Chavez fixed the exchange rate, imposed price controls, printed money and did a wave of nationalisation (not the oil infrastructure that was in the 70s). USA isn't to blame for Venezuelan dysfunction.