Venezuela is socialist democracy, as there are democratic elections and multiple political parties. Policies of nationalisation under Chavez, though, probably d

Venezuela is socialist democracy, as there are democratic elections and multiple political parties. Policies of nationalisation under Chavez, though, probably did contribute to the current problems, as they caused a flight of capital. http://www.reuters.com/article/2011/12/01/venezuela-nationalizations-idUSN1E79I0Z520111201 http://www.reuters.com/article/2011/12/01/venezuela-national...