VENEZUELA: Fiesta of Good Works

Venezuela proudly showed off some of the marvels that $2 billion, poured into the country's economy in the last five years, can work in an under-developed but oil-rich land. In a festive "Dedication Week," Venezuela (pop. 5,000,000) got its first big up-to-date hotel, a super-highway more expensive per mile than any other in the world, and hundreds of lesser public works and engineering projects. By night-and-day speedups, the whole fat package had been brought more or less to completion at the same time, and President Marcos Pérez Jiménez inaugurated the "good works wholesale.

Grand Hotel. At a $75,000 white-tie party last...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!