Venezuela: Inequality Precursor


The Venezuelan economy is contracting quickly in part due to the halfing of oil prices [oil is Venezuela’s largest export] . But also social and political unrest as seen in the video is also a cause for the following economic distress:

Venezuela Economy [source]
GDP growth rate GDP/Capita in 2016 $ Unemployment Rate
2016 -10%  15,100  10.5
2015  -6.2  17,000  6.8
2014  -3.9  18,400  na

The question raised at Salon.com is whether this nationwide but segregated unrest is a precusrsor to violence in other countries where the poor bear the brunt of the disruption while the privileged classes largely “ecape dicomforts”. The Gini index maps national inequality levels – the higher the index the greater the level inquality. Here is the map of Inequality Worldwide provided by the IMF:
So by this indicator watch for Inequality’s Repercussions  to be tested in Central and South America  and Southern Africa next. And along with pollution, China has serious levels of inequality to be dealt with.

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