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Venezuela; A Case Study

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Venezuela; A Case Study

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Title: Venezuela; A Case Study
Author: Wilkerson, Susan Janell
Abstract: A case study of Venezuela is provided to test Marxist theory of political development. The first hypothesis is: three characteristics are inherent in any politically developed nation-State:There is an inherent class divide in society and this divide is based upon the ratio of <italic>wealth produced to wealth distributed</italic> by the modern industry;The existence of this class divide has existed throughout history and has led to political dictatorships of a small possessing class over a large proletariat class;As developments in the world market increase an individual's awareness in global society, the proletariat class organizes to abolish the dictatorship of a small possessing class over a large proletariat class and institute a more equitable ratio of <italic>wealth produced to wealth distributed</italic>. Because the evidence provided by the case study of Venezuela supports the first hypothesis, Marxism combined with more resent research is used as a framework for testing the second hypothesis. The second hypothesis is: the nationalization of the oil industry created a positive correlation between the market value of petroleum and the stability and sustainability of Venezuela's current socialist democracy. Because the ratio of <italic>wealth produced to wealth distributed</italic> in Venezuela is primarily dependent on profits made by the oil industry, it is hypothesized the oil industry will play a significant role in the stability of the nation's socialist democracy. Marxist theory combined with the work of more recent academic research concerning the sustainability of “redistributive” democracies, is used to analyze quantitative and qualitative trends in the market value of petroleum and measures of democracy. The data supports the finding that the nationalization of the oil industry created a positive correlation between the market value of petroleum and the stability and sustainability of Venezuela's current socialist democracy.
URI: http://hdl.handle.net/10106/11022
Date: 2012-07-25

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