Venezuela issue it´s not really economical, since it has everything it needs to be productive with resources and talented people; Venezuela issue it´s the socialist ideology that turned into cleptocratic populist tyranny that held power by force and populism itself.
Venezuela has worked bellow 7% of their fertile land
Socialist party along with fake opposition, have done a system that makes productive factors and businessman accomplice of the socialist trap to collectivice all the productive media, and to make all venezuelans dependant on the importation of goods (under high commisions to them) making an auto dumping where producers can´t compete and ultimately will get into bankrupcy giving socialist more and more power along the unemployed that will be dependant of the subisidiary benefits.
As you might see, the economic situation it´s a result of a political socialist party, focused on destroy the economic independence of the country toward a controlles system.
If Venezuela get rid of the socialist populist system, that rises the wages but not the production (since expropiation and drowning measures) Venezuela could rise up again as a country of their own.
