Earlier I showed a plot of net foreign investment in US$ in recent years. The following plot shows a long term view of private investment per inhabitant in constant 1984 Bolivars since 1920 (This means that the Bolivars are adjusted for inflation taking as reference 1984). Notice the dramatic drop since the peak in the 70’s (When coincidentally the low in poverty occurred), Notice we are down to the 1940’s. Even if you include Government investment, the total in recent years barely rises to double what it is in the most recent data in this graph. I am trying to get the plot for total investment. Government investment has never been more than Bs. 3,000 per inhabitant, with peaks at that level in 1978, 1982 and 1992. 
From “Politica Economica” in Acuerdo Social.
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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