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(The same old critique. How is it that so little of this was heard before oil prices began to plummet?)
“It’s important to admit that the Bolivarian governments in the past 18 years were incapable of transforming the economic structure of the country,” says Dr Luis Fernando Angosto-Ferrández, a lecturer of Anthropology and Spanish and Latin American Studies at Sydney University.
“There remains a structure of rentier capitalism which is absolutely dependent on the rent obtained by oil production and exportation. Certainly much of the money that was obtained through that oil revenue ended up in public redistribution,” he says.
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