An interesting article about the background to current events in Venezuela:
Anatomy of an economic suicide: Venezuela under Maduro - Asia Times
Most “democratic” governments today are failing (see, e.g. Europe), but Venezuela’s failure has been dramatic. I have met many Venezuelan expatriates in various countries – mostly intelligent, well-educated, capable people. But I had not realized that a quarter of Venezuela’s people have voted with their feet or been thrown out of their native land. That is almost worse than the Ukraine!
“… Between 2013 and 2025, the Bolivarian Republic of Venezuela experienced the single largest economic contraction in modern history for a country not at war. According to data from the World Bank and the IMF, the economy evaporated approximately 80% of its GDP, a figure that dwarfs what happened to the United States in the Great Depression (29%) and to the Soviet Union during its collapse. …
… The Venezuelan collapse serves as a grim case study in public goods failure. The primary economic mandate of a state is to provide a stable currency, security and basic infrastructure (power/water). When a government fails to protect the value of money or the stability of the grid, its economic legitimacy evaporates. …”