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Venezuela bondholders inch toward showdown

Friday, July 7, 2017

Venezuela and the Arab Spring

This theory of oil and authoritarianism has been long researched, notably In Michael L. Ross’ Foreign Affairs article “Will Oil Drown the Arab Spring?” where Ross discusses the relationship between oil and autocracies and how those ties can affect regimes. Throughout his article, Ross returns to the theory of the Oil Curse to support his claims, describing the curse as a phenomenon where “oil wealth leads to authoritarianism, economic instability, corruption, and violent conflict.” This “curse” seems to be afflicting Venezuela currently, just as it did to Libya during the Arab Spring. More…

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