THINGS ARE NEVER SO BAD THAT THEY CAN'T GET WORSE

Tracking the tragic demise of the once-thriving, oil-rich nation.

As the Caracas-based Andes bureau chief for the New York Times from 2012 to 2016, Neuman is well qualified to recount the South American nation’s precipitous decline. He records Venezuela’s dramatic political and economic changes through interviews and deft firsthand observations, exploring the collapse of social institutions, entrenched poverty, staggering inflation, chronic blackouts, famine, and pervasive despair. Neuman points to two specific elements that help explain the tumult: the “Resource Curse” caused by its massive oil wealth, to which the entire economy was chained; and the violent rift between those who supported Hugo Chávez, the publicity-hungry president who nationalized the oil industry and centralized the government, and those who did not. Chávez “mined [the rift] and encouraged it until it became part of the landscape, something that people took as a given.” When he died in 2013, after 14 years as president, he was succeeded by his crony Nicolás Maduro, “a less talented politician who styled himself as the ideological heir of the man he called the eternal comandante.” In 2014, the massive drop in oil prices collapsed the economy, as the country depended almost entirely on its oil exports, at the expense of all others. In 2018, the disputed reelection of Maduro, tainted by heavy-handed oppression of his opponents, led to the attempted coup by the head of the National Assembly, Juan Guaidó, who declared himself interim president in 2019. Despite support by the U.S. and others in a concerted effort to depose Maduro—accompanied by crippling sanctions by the Trump administration—there was no citizens uprising, as hoped, just more misery. The author delivers the best kind of journalism, combining powerful facts and pointed observation, as he moves from one alarming event to the next, bringing into the spotlight countless Venezuelans who have little hope for the future.

A heartbreaking yet authoritative, necessary look at a ruined nation.