North Korea began as a Stalinist society oriented around heavy industry and manufacturing. In this week’s episode, Marcus Noland of the Peterson Institute for International Economics talks with Matt Klein about how the country’s economy has changed over time.
Ricardo Hausmann speaks with us about the macroeconomic and humanitarian catastrophe in Venezuela. Hausmann is the Director of the Center for International Development at Harvard, where he also runs the Growth Lab. The topics we cover in the chat include an overview of Venezuelan history since the 1950s, the state’s reliance on oil, the specific policies enacted by Hugo Chavez that are responsible for the current disaster, his own antagonistic relationship with the Venezuelan government, the bleak prospects for the country’s future, and the fate of its debt. Some of the articles we referenced, with links embedded: