287 | Jean-Paul Faguet on Institutions and the Legacy of History

5194.591 - 5217.124 Jean-Paul Faguet

Yeah. Okay. So a quick context, Venezuela was the most sophisticated, the richest, and the most politically stable country in Latin America. Venezuela and Argentina usually were competing to be the richest, but Venezuela has a fair claim for a large part of the 20th century. In the 50s, it looked like it was in GDP per capita terms, because it was only about 20 million people.