The graph below shows the percentage of the Venezuelan population registered as a student from preschool to the University since 1957 when Marcos Perez Jimenez was overthrown. 
Source: Luis Bravo Jauregui, La Educacion en tiempos de Chavez, Editorial El Nacional, Caracas (2006)
The Devil's Excrement
Observations focused on the problems of an underdeveloped country, Venezuela, with some serendipity about the world (orchids, techs, science, investments, politics) at large. A famous Venezuelan, Juan Pablo Perez Alfonzo, referred to oil as the devil's excrement. For countries, easy wealth appears indeed to be the sure path to failure. Venezuela might be a clear example of that.
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The Devil's Excrement 