Topics: Venezuela, Hugo Chávez, Economic system Pages: 4 (1134 words) Published: August 5, 2010
This paper will talk about Hugo Chavez and the many sleeves that he wears as president. The economic system will be conquered in this paper. It will also, explore the political party that is practiced in Venezuela. Another thing that this paper will touch on is the country’s differences and what is being done to change it. One major issue in Venezuela seems to be the corruption of the government. Another issue this paper will cover is the drawback of the oil prices falling. Lastly, the focus will be on the future of Venezuela and the attractiveness of international businesses doing business in Venezuela.

County Differences: Chavez’s Venezuela
The kind of economic system that is being put into place in Venezuela, under Chavez’s leadership is a command economic system. This has to do with Chavez’s hold over the government and wanting the government to distribute resources for the country. This has also helped Chavez have a hold over the court systems and how they operate. Another reason Venezuela is seen as command economic system under Chavez is because he controls the media. The independence that the Venezuelans have is seen as being gradually reduced. Another example is the fact that the economy is being ruled by the Venezuelan Government. The Venezuela economy wasn’t great because of the high numbers in unemployment in the country and the shrinking of the economy. By Venezuela businesses being regulated there is plenty room for city bureaucrats to improve themselves by demanding kickbacks in return for authorization to help increase businesses.

I would characterize Venezuela’s political system as being a part of socialism. Reason being is because Chavez’s himself considers Venezuela being reformed to be “Socialism of the 21st Century”, I think that this saying speaks for itself. (Hill, 2009, p.41) Socialism can be defined as, “a political philosophy advocating substantial public involvement, through government ownership, in the means of...
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