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Poverty Isn’t A Thing

Here’s a little secret development nerds know that muggles struggle with: poverty isn’t a thing. Those newspaper stories you see about rises and falls in “the poverty rate”? They boil the question down to a single summary statistic. A rate. At most two rates (“poverty” and “extreme poverty”). That gives the illusion that poverty is like the temperature outside…

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On the Uses of Phantasmagoric Profits

Willie Neuman has a really great piece in the New York Times today about the big hit various multinationals’ bottom lines are taken as they’re forced to revalue their Venezuela profits from the fantastical Bs.6.30:$ rate to more realistically devalued levels. A taste: Brink’s, the armored car company, could see about $400 million in revenue…

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A Telling Schism

Is it just me, or do you also have the sense that Maduro is looking at the brewing Rebelión de los Utópicos and grinning widely to himself? On the heels of Jorge Giordani’s purge-hissy-fit, fellow purged leftie academic/extremist Héctor Navarro takes to the pixels of Aporrea.org to get Giordani’s back. Navarro’s shocked – shocked – that no action…

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Ramón J. Velásquez (1916-2014)

Ramón J. Velásquez, eminence grise of Acción Democrática, has died in Caracas at the age of 97. It’s unfortunate that Velásquez will be remembered by most for his short, ill-starred stint as accidental president following the resignation of Carlos Andrés Pérez in 1992-1993 or, alternatively – in the wake of the publication of Francisco Suniaga’s enormously…