April 27, 2018 Print

Hugo Faría, Econintech’s senior researcher & policies consultant and a professor of economics at the University of Miami (FL), appears on Xavier Serbiá’s CNN Dinero program on CNN Español to discuss Econintech’s Monetary Freedom Proposal. Photo Credit: CNN Español.

Rafael Acevedo, director of the Venezuelan organization Econintech, came to Washington D.C. in 2017 for a Smith Fellowship with Atlas Network. While in Washington, he met with several individuals and organizations in courting allies to support him in his work to bring about a freer Venezuela. One those meetings came with renowned economist Professor Steve Hanke.

Hanke previously served as an advisor to the minister of finance and economy of Ecuador during the country’s process of dollarization in early 2000. Acevedo and Hanke discussed a possible dollarization of Venezuela in their meeting last year, and in February of this year Econintech hosted a Monetary Freedom and Dollarization Conference that featured (via-Skype call) Hanke and a dollarization proposal for Venezuela. He explained to the more than 80 attendees the positive effects that dollarizing the troubled economy would have. Luis Cirocco, who co-founded and co-directs Econintech with Acevedo, spoke about myths associated with dollarization and rebutted common arguments prominent Venezuelan politicians make against dollarization, and Acevedo spoke about the public policies that led to Venezuela’s current hyperinflation.

"The biggest problem in Venezuela is not the drug trafficker tyranny we have – which is a big problem – but the biggest is the socialism implemented since 1958,” said Acevedo. “Another big problem is the culture of a society that believes that the best politician is who offers the most public benefits.”

Hugo Faría, Econintech’s senior researcher & policies consultant and a professor of economics at the University of Miami (FL), represents the organization in the United States at local events in Miami and recently appeared on Xavier Serbiá’s CNN Dinero program on CNN Español to discuss Econintech’s Monetary Freedom Proposal.

Econintech has also been presenting at a handful of universities about alternatives to the prevailing socialist public policies that dominate the country while also touching on cryptocurrencies and how greater economic freedom diminishes corruption. In an event held on March 9, Econintech taught more than 40 attendees about entrepreneurship.

The organization is additionally publishing a book titled Causes and Culprits of Venezuela’s Economic Disaster: A Tribute to Hugo Faría. The book will feature the work of academics such as professors James Gwartney and Maria Lorca-Susino and examine how the country has gotten into its current economic quagmire.

Acevedo will be working as a research scholar at the Free Market Institute at Texas Tech University from August 6, 2018, to March 6, 2019.