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This open access book discusses financial crisis management and policy in Europe and Latin America, with a special focus on equity and democracy. Based on a three-year research project by the Jean Monnet Network, this volume takes an interdisciplinary, comparative approach, analyzing both the role and impact of the EU and regional organizations in Latin America on crisis management as well as the consequences of crisis on the process of European integration and on Latin America’s regionalism. The book begins with a theoretical introduction, exploring the effects of the paradigm change on economic policies in Europe and in Latin America and analyzing key systemic aspects of the unsustainability of the present economic system explaining the global crises and their interconnections. The following chapters are divided into sections. The second section explores aspects of regional governance and how the economic and financial crises were managed on a macro level in Europe and Latin America. The third and fourth sections use case studies to drill down to the impact of the crises at the national and regional levels, including the emergence of political polarization and rise in populism in both areas. The last section presents proposals for reform, including the transition from finance capitalism to a sustainable real capitalism in both regions and at the inter-regional level of EU-LAC relations.The volume concludes with an epilogue on financial crises, regionalism, and domestic adjustment by Loukas Tsoukalis, President of the Hellenic Foundation for European and Foreign Policy (ELIAMEP). Written by an international network of academics, practitioners and policy advisors, this volume will be of interest to researchers and students interested in macroeconomics, comparative regionalism, democracy, and financial crisis management as well as politicians, policy advisors, and members of national and regional organizations in the EU and Latin America.
Venezuela remains in a deep crisis under the authoritarian rule of Nicolás Maduro of the United Socialist Party of Venezuela. Maduro, narrowly elected in 2013, began a second term on January 10, 2019 that is widely considered illegitimate. The United States and 57 other countries recognize Guaidó as interim president, but he has been unable to harness that diplomatic support to wrest Maduro from power. Venezuela's economy has collapsed. The country is plagued by hyperinflation, severe shortages of food and medicine, and a dire humanitarian crisis that has further deteriorated in 2020 as a result of gasoline shortages, an outbreak of Coronavirus Disease 2019 (COVID-19), and strengthened U.S. sanctions.
Humanitarian military intervention and muscular peace operations have been partially effective in recent years in saving thousands of lives from the Balkans to Haiti to Somalia to Cambodia to Mozambique. However, success has often been mitigated by the international community's unwillingness or inability to quickly send enough forces capable of dealing with a situation decisively. In other cases, the international community has essentially stood aside as massive but possibly preventable humanitarian tragedies took place — for instance, in Angola and Rwanda in the mid-1990s and in Congo as this book goes to press. Sometimes these failures have simply been the result of an insufficient pool of available military and police forces to conduct the needed intervention or stabilization missions. In this timely new book, Michael O'Hanlon presents a blueprint for developing sufficient global intervention capacity to save many more lives with force. He contends, at least for now, that individual countries rather than the United Nations should develop the aggregate capacity to address several crises of varying scale and severity, and that many more countries should share in the effort. The United States' role is twofold: it must make slight redesigns to its own military and, even more important, encourage other nations to join it in this type of intervention, including training and support of troops in countries, such as those in Africa, that are willing to take the necessary steps to prevent humanitarian disaster but lack the resources.
Migrants fleeing economic hardship or violence are entitled to a range of protections and rights under domestic and international law, yet they are often denied such protections in practice. In an era of mass migration and restrictive responses, migrant acceptance is often contingent on the expectation that they contribute economically to the host country while remaining politically and socially invisible. These unwritten expectations, which Jeffrey D. Pugh calls the "invisibility bargain", produce a precarious status in which migrants' visible differences or overt political demands on the state may be met with hostile backlash from the host society. In this context, governance networks of state and non-state actors form an institutional web that can provide indirect access to rights, resources, and protection, but simultaneously help migrants avoid negative backlash against visible political activism. The Invisibility Bargain seeks to understand how migrants negotiate their place in receiving societies and adapt innovative strategies to integrate, participate, and access protection. Specifically, the book examines Ecuador, the largest recipient of refugees in Latin America, and assesses how it achieved migrant human security gains despite weak state presence in peripheral areas. Pugh deploys evidence from 15 months of fieldwork spanning ten years in Ecuador, including 170 interviews, an original survey of Colombian migrants in six provinces, network analysis, and discourse analysis of hundreds of presidential speeches and news media articles. He argues that localities with more dense networks composed of more diverse actors tend to produce greater human security for migrants and their neighbors. The book challenges the conventional understanding of migration and security, providing a new approach to the negotiation of authority between state and society. By examining the informal pathways to human security, Pugh dismantles the false dichotomy between international and national politics, and exposes the micro politics of institutional innovation.
"This new and expanded edition of Dragon in the Tropics—the widely acclaimed account of how president Hugo Chávez (1999–2013) revamped Venezuela’s political economy—examines the electoral decline of Chavismo after Chavez’s death and the policies adopted by his successor, Nicolás Maduro, to cope with the economic chaos inherited from previous radical populist policies. Corrales and Penfold argue that Maduro has had to struggle with the inherent contradictions of a large and heterogeneous social coalition, a declining oil sector, the strength of entrenched military interests, and fewer resources to appease international allies, which have strenghtened the autocratic features of an already consolidated hybrid regime. In examining the new political realities of Venezuela, the authors offer lessons on the dynamics of succession in hybrid regimes. This book is a must-read for scholars and analysts of Latin America. "
Protection challenges around the globe require innovative legal, policy and practical responses. Drawing primarily from a new generation of researchers in the field of refugee law, this volume explores the ‘boundaries’ of refugee law. On the one hand, it ascertains the scope of the legal provisions by highlighting new trends in State practice and analysing the jurisprudence of international human rights bodies, as well as national and international Courts. On the other hand, it marks the boundaries of refugee law as ‘legal frontiers’ whilst exploring new approaches and new frameworks that are necessary in order to address the emerging protection challenges.
The emergence of Hugo Chávez in Venezuela has revived analysis of one of Latin America’s most enduring political traditions – populism. Yet Latin America has changed since the heyday of Perón and Evita. Globalisation, implemented through harsh IMF inspired Structural Adjustment Programmes, has taken hold throughout the region and democracy is supposedly the ‘only game in town’. This book examines the phenomenon that is Hugo Chávez within these contexts, assessing to what extent his government fits into established ideas on populism in Latin America. The book also provides a comprehensive and critical analysis of Chávez’s emergence, his government’s social and economic policies, its foreign policy, as well as assessing the charges of authoritarianism brought against him. Written in clear, accessible prose, the book carries debate beyond current polarised views on the Venezuelan president, to consider the prospects of the new Bolivarian model surviving beyond its leader and progenitor, Hugo Chávez.
Since he was first elected in 1999, Venezuelan President Hugo Chávez Frías has reshaped a frail but nonetheless pluralistic democracy into a semi-authoritarian regime—an outcome achieved with spectacularly high oil income and widespread electoral support. This eye-opening book illuminates one of the most sweeping and unexpected political transformations in contemporary Latin America. Based on more than fifteen years' experience in researching and writing about Venezuela, Javier Corrales and Michael Penfold have crafted a comprehensive account of how the Chávez regime has revamped the nation, with a particular focus on its political transformation. Throughout, they take issue with conventional explanations. First, they argue persuasively that liberal democracy as an institution was not to blame for the rise of chavismo. Second, they assert that the nation's economic ailments were not caused by neoliberalism. Instead they blame other factors, including a dependence on oil, which caused macroeconomic volatility; political party fragmentation, which triggered infighting; government mismanagement of the banking crisis, which led to more centralization of power; and the Asian crisis of 1997, which devastated Venezuela's economy at the same time that Chávez ran for president. It is perhaps on the role of oil that the authors take greatest issue with prevailing opinion. They do not dispute that dependence on oil can generate political and economic distortions—the "resource curse" or "paradox of plenty" arguments—but they counter that oil alone fails to explain Chávez's rise. Instead they single out a weak framework of checks and balances that allowed the executive branch to extract oil rents and distribute them to the populace. The real culprit behind Chávez's success, they write, was the asymmetry of political power.