True, but not always, and definitely not necessarily for the populous. That is what I think you are getting in this. Im not here advocating the policies of Chavez/Maduro. Im advocating the right of Venezuelan people to determine their own future, their own economic and political system without undue interference by foreign nations imposing their interests through economic sanctions and threats of military force.Crashes can of course happen in a free market economy, however the economy rebounds (often within a decade & ends up stronger).
The system that preceded Chavez also failed. It didn't bounce back stronger and stronger, it left ever increasing amounts of the population trapped in relative poverty until eventually organized politically and voted for radical change.
You are totally right in identifying the failures of past socialist regimes, but if you are really concerned about populations being persecuted then it doesn't really matter under what political system it occurs, persecution is persecution.
So be it in Venezuela under Maduro or in Saudi Arabia under the House of Saud, where they chop up journalists.
Worryingly, the country with the greatest prison population is the United States. This is a very poor reflection for a country built on principles of life, liberty and the pursuit of happiness. Unless of course you consider prison to be just another industry to profit from?
So the underlying point is what is the US interest in Venezuela. Democracy? Liberating the people from a failed political and economic system (which pre-dates Chavez by a long way, so why such interest now?)
I would suggest that it is to advance US corporate interests, particularly the oil industry, and not much else.
I dont have issue with that, as long as those interests are not being advanced through military aggression or economic sanction against a sovereign nation that freely and democratically elected its own government.