Government Failure and Venezuela's Economy

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.

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Story Length: 4:17

Listen to the Story:

Listening Comprehension Questions

In what ways did Andrew Carnegie’s libraries serve their communities?
How did Carnegie benefit from a library when he was growing up?
Which personality traits helped propel Carnegie from poverty to riches? Bring specific details from the story to support your ideas.
According to Carnegie, what should rich people do with their money and why? Why was Carnegie known as both generous and “brutal”?

Discussion Themes

In your opinion, what should really rich people do with their fortunes?
What does it take for a person to rise from “rags to riches”?

Socrative users can import these questions using the following code: SOC-1234

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