Abstract
Venezuela is often called the richest undeveloped country in the world and there are gross disparities in wealth throughout. The gap between the capitalist sector and the domestic sector steadily widened, for with unguided market forces determining the allocation of resources, cumulative movements in income inequalities became entrenched. The economic crisis of 1958–1961 led to a substantial diversification of the economy from oil exporting and a curtailment of luxury expenditure; however in the agricultural sector little real change occurred.
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Watters, R. (2021). Economic Backwardness in the Venezuelan Andes. In: Rural Latin America in Transition. Governance, Development, and Social Inclusion in Latin America. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-65033-9_7
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DOI: https://doi.org/10.1007/978-3-030-65033-9_7
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