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The Political Economy of Venezuelan Oil describes the historic role of multinationals in establishing the oil industry there and the resulting coordination of an integrated, nationalized industry. Randall posits that the nationalization of the Venezuelan oil industry was strikingly different from that in Brazil and Mexico. Besides giving a detailed description of the structure and management of this industry, she also provides a history of labor conditions and an analysis of the impact of the oil industry on Venezuela's overall economy.
LAURA RANDALL is Professor of Economics at Hunter College.
Preface and Acknowledgments Introduction What the Multinationals Brought Other than Oil The Road to Nationalization Nationalizing the Oil Industry Workers and Managers in the Venezuelan Oil Industry The Oil Industry and the Development of the Services Sector Nationalizing Capital Goods Production for the Oil Industry Planning Oil and the Rest of the Economy Conclusion Bibliography Index