Latifundio and the logic of underdevelopment: the case of Venezuela’sSur del Lago

Underdevelopment in Venezuela is often understood as a product of oil dependence, weak state capacity or a subordinate position in the international division of labor. Yet all of these should be seen more as consequences of underdevelopment rather than its causes. This contribution posits an alternative explanation for underdevelopment in Venezuela based on rural property relations and their impact on industrialization and the diversification of the local economy. An in-depth case study of one of Venezuela’s most important agricultural regions seeks to uncover the internal productive logic of the region’s large rural estates, and argues that the dominance of these ‘latifundios’ and the resulting rural economy are at the root of underdevelopment in Venezuela.