Abstract

MATA MOLLEJAS, Luis. Economía política y política económica para la Venezuela del siglo XXI: “El Estado Fofo”. Revista de Ciencias Sociales [online]. 2006, vol.12, n.3, pp.417-438. ISSN 1315-9518.

Political transformations in twenty-first century Venezuela have been associated with the dynamic of the petroleum industry and monetary and financial mutations in international and national spheres.  In recent internal behavior, financial speculation in banking activity resulting from the sustained incidence of a fiscal deficit and its consequence on the real economy in the form of a “depressive trap” are at the center of an explicative mechanism that allows for evaluating the desirable relationship between the state and civil society (social choice).  The article also focuses on the challenges made to macroeconomic policies (public choice) to induce a higher level of collective well-being, associated with a higher employment level, when considering the current situation of the “oil bubble,” a “depressive trap” and “restricted govern ability.”

Keywords : Flabby state; oil bubble; depressive trap; restricted govern ability; twentieth century.