It's my opinion, and you can see that in some of my comments! Venezuela is just one of the "bad" examples of what this traditional economy is doing for centuries... It's too corrupted, and believe it or not powerful countries and their big banks are pretty much responsible for all that shit around that last for too long..
Oh yeah, we're responsible for all the crap that their leaders have done so!
When they were nationalizing everything they could get their hands on and giving it away they were heroes, now when we don't want to give them more money to spend on useless garbage we're at fault! It's always somebody else to blame, not their stupid politics and of course not socialism! Blame the US, blame the banks but not the morons cheering when their own leaders were setting up programs that were going to ruin the country.
If this traditional economy is this bad why are some countries doing so good compared to Venezuela without a single drop of oil?
It is that simple, how is it possible that a country that has so much natural resources which other countries would love to have is in such a desperate position? What caused this? And the answer is socialism, no economic system that is based on stealing from others is sustainable long term, at first it may seem like it is as they gain all of the wealth of those that got their assets confiscated but once that is over then what? Who in his right mind will try to prosper when everything can be stolen? The truth is that incentives matter, and when you cannot improve your financial situation regardless of the efforts you make then the only logical answer is to stop trying and do something else with your life, and once this becomes endemic around the country there is no salvation for the economy.