As much as I would like to believe that the COVID-19 crisis will produce a future where evidence-based policies triumph over other forms of governance, the sad reality is that the COVID-19 crisis will leave us in a much more authoritarian Venezuela.
Author: Jorge Jraissati (Jorge Jraissati)
Venezuelans are desperate to circumvent the ill-conceived regulations that are harming their nation’s wellbeing. They eagerly await a real economic turnaround—one that will protect the economic freedoms of all Venezuelans. And they know that Venezuela cannot recover without democracy.
In order to flourish economically, property rights must be secure and the rule of law must exist.
As a Venezuelan and an economist, I believe we economists sometimes need to go beyond economic indicators. We need to speak from our hearts about our experiences. Only by doing this can we truly communicate the social implications of an economic collapse of this magnitude. No economic indicator could ever do justice to the depth of the human suffering taking place in Venezuela today. Venezuelans are suffering in ways most people in developed nations could not even imagine.