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In the 1950s, Venezuela was the fourth wealthiest country in the world. Today, Venezuela is poorer than it was prior to the 1920s, its infrastructure is deteriorating, and its economy has been shrinking since the turn of the century. Hyperinflation (out of control price increases) has left the currency worthless and made it almost impossible for Venezuelans to afford basic necessities. Millions have fled the country’s inhospitable conditions. How did the country go from having a GDP on par with that of the United States, New Zealand, and Switzerland to having almost 90% of the population living in poverty?