bleh Venezuela is not a socialist country, the vast majority of its economy is still in private hands. Venezuela is no different than a lot of Scandinavian countries with a strong welfare State, they nationalized the oil industry and put the wealth into helping the poor. The difference between the Scandinavian countries and Venezuela is that Venezuela dared to go against USA policy, and that is a big no no especially in the US' backyard. Like Cuba, Venezuela has been under constant attack by the USA, but unlike Cuba, Venezuela's economy was still in the private sector, so it was easier to destabilize. Venezuela was too reliant on oil prices, when oil prices was high everything was good, but once oil prices crashed, that's when things went downhill.