Venezuela: How to Destroy a Nation (Ft. Benjamin Studebaker)

2025-11-15

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Get access to The Backroom (80+ exclusive episodes) on Patreon: https://www.patreon.com/OneDimeIn this episode of 1Dime Radio, I am joined again by regular guest Benjamin Studebaker, political theorist and PhD from University of Cambridge to break down everything you need to know about Venezuela. In the public episode, Studebaker and I break down the situation in Venezuela, US aggression, and unpack the history of Venezuela as a case study of petrostates and Why Nations Fail while others get rich. We also analyze Trump’s r...

Get access to The Backroom (80+ exclusive episodes) on Patreon: https://www.patreon.com/OneDime

In this episode of 1Dime Radio, I am joined again by regular guest Benjamin Studebaker, political theorist and PhD from University of Cambridge to break down everything you need to know about Venezuela. In the public episode, Studebaker and I break down the situation in Venezuela, US aggression, and unpack the history of Venezuela as a case study of petrostates and Why Nations Fail while others get rich. We also analyze Trump’s regime change ambitions and the risk of war, the rise and unraveling of Chávez and Maduro, the oil curse that wrecked Venezuelan socialism, and why so many post-colonial petrol states get trapped between getting rich and falling apart. Along the way, we break down how nations really become wealthy or fail, debunk popular myths about development and decolonization, and map the structural traps that still ensnare countries in the Global South.

In The Backroom exclusive episode on Patreon, we discuss the limits of anti-imperialist politics, Israel-Palestine, and the tragic legacy of decolonization in Africa, then dive into more niche political theory debates where I introduce Ben to my early ideas about “The Will and the Spirit” and debate the question of political influence and what we can actually DO to change anything.

Timestamps:

00:00:00 The Backroom Preview: Imperialism and Anti-Imperialism

00:06:27 WTF is Happening Between Venezuela and the USA?

00:08:35 Petrol states 101, Dutch Disease, and US Sanctions

00:22:48 War Powers and the Imperial Presidency

00:30:33 Hugo Chávez, the Bolivarian Revolution, and Maduro

00:35:28 Hyperinflation, Corruption, and the Militocracy Trap

00:44:02 Libya, and The New Regime-Change Playbook

00:49:21 The Guyana border crisis

00:55:09 Gulf monarchies, migrant underclasses, and “successful” petrol states

00:59:26 Trump’s military build-up and scenarios for a Venezuela war

01:06:47 Eastern Europe democratization vs Middle East Interventions