Introduction

Venezuela's economy is undergoing a sweeping transition marked by the government's takeover or threatened takeover of several companies.[1] Most noteworthy has been the government's taking majority control of the oil sector, driving out Exxon Mobil and ConocoPhillips.[2] Venezuelan President Hugo Chavez and other officials have raised the possibility that the government will inject itself into other sectors such as the food industry, banking, steel production, and private hospitals. The Venezuelan government has said that it will take over entire industries if it deems ...