Dollarization Drives Luxury Goods Consumption in Venezuela

While the pandemic widens inequalities between the world's rich and poor, Venezuela is perhaps the most glaring case.

RIO DE JANEIRO, BRAZIL - Two young women enjoy a sunny day by the pool, laughing carefree as they pour Prosecco over a mango sorbet.

Part of an Instagram advertising campaign, the picture is the epitome of hedonistic opulence - at least in Caracas, the deeply impoverished city where it was staged. The dissonance between the ad and the harsh reality does not seem disturbing. In the comments, the Lits network of alcoholic sorbets receives heart-shaped emojis.

While the pandemic widens inequalities between the world's rich and poor, Venezuela is perhaps the most glaring case. President Nicolás Maduro reinforced . . .

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