After reading Venezuela Collapse - The Venezuelan Crisis Explained by Carlos Lizzaralde: 9 Lessons I Learned About Economic Collapse, Governance, and Humanitarian Crisis

In the mid-1970s, Venezuela was the envy of Latin America. Oil wealth poured into its cities like a sudden monsoon, filling streets with new cars and storefronts with imported goods. Politicians promised a modern democracy with a social safety net that could rival Europe's. People believed them.

For decades, Venezuela was not only rich, it was safe, stable, and—most importantly—hopeful. And then, slowly, almost imperceptibly at first, the unraveling began.

When we talk about a country's coll...