[crdoconnor]

>The first edition came out many years ago. Since then, the world has provided a few case studies on the matter. For example we've been been watching the slow-motion train wreck that is Venezuela's economy

Venezuela's economy already went through this period in the late 80s/early 90s. The collapse of oil prices and its subsequent effect on the economy and the government's ability to maintain services is partly what led to an infuriated populace electing Chavez.