An article in the Economist about Venezuela stated, “The economy is in such an appalling state, and inflation is so high, that Venezuelans greeted a rise of 60% in the minimum wage on May 1st with...

An article in the Economist about Venezuela stated, “The

economy is in such an appalling state, and inflation is so

high, that Venezuelans greeted a rise of 60% in the minimum wage on May 1st with shrugs of ‘so what?’” What

would be two reasons the people of Venezuela would

shrug off a rise in the minimum wage of 60 percent?

Source: “It’s Up to the Army,” Economist, May 6, 2017.