Fallacies essay

Fallacies essay

Fallacies are mistaken beliefs that are based on biased arguments. There are different types of fallacies, all with one common denominator, which is the baseless nature of the argument. The different types of fallacies represent arguments that are designed to elicit specific kinds of reactions for the public. Study shows that magazines and other media platforms have been some of the areas were fallacies had been witnessed (Cawthorne, 2014). Slippery slope, for instance, is a type of misconception that details how certain actions may lead to dire consequences even in cases where there is no proof of such cases. Other types of fallacies include missing the point fallacies and hasty generalizations, among others. As mentioned, news articles have been one of the primary documents characterized by fallacies, most of which are intended to capture the attention of the reader rather than informing them (Cawthorne, 2014). Political leaders have also been considered to deliver arguments that have no merit or basis, most of which are meant to sway the public in their favor.

The article ‘Maduro blames plunging oil prices on U.S. ‘war’ vs. Russia, Venezuela’ by Andrew Cawthorne is an example of fallacies in a speech given by the president of Venezuela. The definitions of fallacies are arguments that have no basis and are characterized by bias and misinformation. In this case, the resident of Venezuela bales other countries for the hike in oil prices, an aspect that has been perceived to be the result of economic meltdown under his leadership (Ftiti et al., 2016). In his statement, he blamed the rise in oil prices as a result of an economic war between the United States and Russian. According to the president, the financial crisis in the country was not to blame for any of the issues the country is facing. He piles blame on other countries in the wake of a political and economic crisis that has been evidently attributed to his poor and dictatorial leadership.

According to Reuters, oil exports in the country dropped by over 50% in 2014 due to the economic war between Russian and the United States. This information was relayed to the media by the president of Venezuela, Nicolas Maduro.   Maduro has been responsible for the sanctions and destruction of diplomatic relations with other countries, an aspect that has contributed significantly to the decrease in crude oil exports in the country (Cawthorne, 2014). However, from the perspective of the president, The United States, and Russia bear the responsibilities for this crisis.  The role played by Russia and the USA in determining the oil prices is rather minimal. However, it can be deduced that Maduro’s statement is a pure representation of fallacy. There is no logic to his argument as it was designed to shift the blame for the crumbling economy from his administration to foreign powers.

Oil accounts for 96% of the total revenue in Venezuela. This implies, therefore, that any shifts in the global oil process will greatly affect the economy of the country. The determinations of oil prices is, however, the responsibilities of the generalized OPEC countries. This, therefore, has no relations with either Russia or the United States as they are not responsible for the determination of these prices.  In the years before, oil prices stood at $103.42 and 98.08 per barrel in 2012 ns 2013, respectively (Dachevsky & Kornblihtt, 2017). The fluctuations of prices have been determined by numerous other factors, including the production of oil by other OPEC countries. However, fallacies have been the basis of the political campiness of Maduro’s administrations alongside intimidations of oppositions as well as misinformation that directs all the blame away from him.

Study shows that both Russia and Venezuela have close economic ties with the United States, particularly based on oil production and exportation. The basis of any political ties, however, are shared interest between nation an aspect that has not been the case due to the oppositions of the Maduro administration by the international community’s as well as majority of the Venezuelans citizens (Cawthorne, 2014).  Despite the high dependency of oil by the economy of the country, other exports have contributed to economic stability.  As mentioned, misinformation and other forms of fallacies have been the traditional tools used by dictatorial leaders across the globe o spread propaganda that keeps them in power, especially in cases where they are to blame for misfortunes and other issues in their country.

In a press release in Carcass in December 2012, President Madura reports that the decrease in the global prices of oil has been attributed to the war between the United States and Russian. In his speech, he reiterated that the country was ready to meet its obligations to the international community by settling its debt. However, the primary concern of investors is the possibility of default. In addressing these fears, he called on to the international community, mainly Russia and the United States, to take responsibility for the effects their disagreement has had on the prices of oil (Dachevsky & Kornblihtt, 2017).   His concern about Carcass was the effects that this oil price has on the ability of the administration to lead the country through the looming economic crisis.

According to reports by economic analysis on the county, the Venezuelans government needs to adopt a different strategy that will help boost the economy and reduce its dependency on oil. An alternative offered was the unification of the three tiers’ currency control (Guesmi & Fattoum, 2014).  The other alternative was raising the gasoline prices in the country as it is the cheapest in the world. All these are alternatives to the fluctuating prices of oil, an aspect that can be adopted by the Venezuelan government. Hoverer Madura, the president of Venezuela, is more focus end on fallacies in an attempt to shift the blame of economic meltdown to other foreign nations.

It can, therefore, be deduced that fallacies are misguided information that is baseless and with no merit. It has also been considered as a biased argument based on either false information or prejudices. A practical case of fallacies lies in the speech of the president of Venezuela Maduro Nicolas, who blames the United States and Russia for the economic war that has greatly affected the oil prices in the county which according to Maduro has also been responsible for the economic crisis of the country. The study, however, shows that the economic crisis in the country has been attributed to the political issues castigated by the Maduro administration.  Although the OPEC countries control the oil prices, the allegations by Maduro that the USA and Russia are solely responsible for these low prices are baseless.  Venezuela depends on oil exports for over 96% of its national revenue. This, therefore, indicates that any fluctuation of oil prices for whatever reason greatly affects the economy of the country.

References

Cawthorne, A. (2014, Dec 30). Maduro blames plunging oil prices on U.S. ‘war’ vs Russia, Venezuela. Retrieved Mar 14, 2020, from Reuters: https://www.reuters.com/article/us-venezuela-oil/maduro-blames-plunging-oil-prices-on-u-s-war-vs-russia-venezuela-idUSKBN0K802020141230

Dachevsky, F., & Kornblihtt, J. (2017). The reproduction and crisis of capitalism in Venezuela under Chavismo. Latin American Perspectives, 44(1), 78-93.

Ftiti, Z., Guesmi, K., Teulon, F., & Chouachi, S. (2016). Relationship between crude oil prices and economic growth in selected OPEC countries. Journal of Applied Business Research (JABR), 32(1), 11-22.

Guesmi, K., & Fattoum, S. (2014). Return and volatility transmission between oil prices and oil-exporting and oil-importing countries. Economic Modelling, 38, 305-3