Venezuela has like one major asset which is oil that everyone in the country feels entitled to benefit from making a full turn away from the mindset of socialism difficult at best and a very long road before they could ever thrive with free market along with a lot of bumps. In the meantime there seems to be little doubt that the vast corruption will need to be dealt with with force. There will need to be a lot of education, guidance and help concerning free market systems before there is any hope of them being successful of making one work...
The socialism started with El Loco Hugo Chavez. All rich countries are the primary targets of socialists because they want to steal. Chavez's daughter lives alone in the presidential palace with about 6 billion that her father stole. Chavez shut down the press and fixed prices in the grocery stores, causing them to close. Famine is a constant tool of the socialists worldwide.
Chavez called in the KBG trained Cuban military to help control the public. They took over and stole 100,000 barrels of oil per day. Chavez and Maduro fired the engineers in the oil fields and installed their cronies. Oil production has now halted. Electricity never was modern and now became worse. The police became criminal. Motorcycle gangs raped, robbed, and murdered along with the police.
Chavez attacked whites in Venezuela as many people are descendants of Spaniards from 250 years ago as Venezuela was one of the first colonies in South America. Chavez was the darling of international communists and socialists such as Obama.
Maduro is a thug with a personality like Stalin or Raul Castro. No one likes him and everyone is hungry having long ago eaten all the cats and dogs.