Topic

Government Failure

To work in many occupations, people need to get a license. Licenses are issued by states and usually require some kind of education or training, test, and/or fee. Licensing exists to protect consumers from untrained, unqualified workers. But there’s another side to licensing. Listen to learn about how licensing also offers economic benefits to people […]

Venezuela has one of the world’s largest oil reserves, but its economy has collapsed, and its government isn’t doing too well either. The country is beset by shortages—of everything. Listen to this story to find out how a country rich in natural resources has descended from wealth and democracy into financial and political chaos.