http://www.inquiriesjournal.com/authors/3051/francis-j-pedraza Inquiries Journal provides undergraduate and graduate students around the world a platform for the wide dissemination of academic work over a range of core disciplines. en-us Tue, 07 Jul 2026 12:27:43 -0400 Tue, 07 Jul 2026 12:27:43 -0400 http://www.inquiriesjournal.com/articles/1297/a-tale-of-two-countries-lessons-from-the-latin-quest-for-the-balance-of-equity-progress-and-freedom By Francis J. Pedraza - In 1917 foreign oil companies came to Venezuela to start drilling in the shallow waters of Lake Maracaibo.1 By 1928 Venezuela had emerged as the world’s top oil exporter, and this touched off a wider economic boom.2 Visionaries saw an opportunity to turn a profit outside the oil sector by laying the foundations of a modern economy. Standard Oil heir Nelson Rockefeller, for example, founded the International Basic Economy Corporation (IBEC) to channel venture capital into Venezuelan fishing, agriculture, and supermarkets.3 Local businessmen were invited to become shareholders to “teach... Thu, 01 Nov 2007 12:00 EDT http://www.inquiriesjournal.com/articles/1297/a-tale-of-two-countries-lessons-from-the-latin-quest-for-the-balance-of-equity-progress-and-freedom