Hyperinflation, industry, cash and salaries in Venezuela

Few would deny that Venezuela is suffering from the worst crisis in its history. For the fifth consecutive year the country will record the highest inflation in the world (estimated at 24,571% for the period May 2017 to May 2018) (Nacional. 2018)). In May 2018, monthly inflation reached 110% while cumulative inflation for 2018 was around 1,995% (Nacional, 2018). This is the seventh consecutive month with hyperinflation and the country watches dumbfounded as prices rise on a daily basis.

The Difficult Historical Relationship between the Left and Democracy

In his essays on progressivism and the progressive governments in the Andean region, Eduardo Gudynas shows us how the notion and content of democracy have changed as these regimes hae developed, in the sense of a weakening of democracy as it was conceived in the tradition of the Left. The author notes an ever-greater difference between progressivism and what he calls the Classical Left in Latin America.