In venezuela, president hugo chavez is proposing an economic system in which the government controls the economic system, ensuring that all people share in the profits generated by their own labor. president chavez is proposing:

Socialism

Venezuelan President Hugo Chávez led the Bolivarian Revolution,  a political process in Venezuela. He is also the founder of the United Socialist Party of Venezuela (PSUV).

He proposed socialism, an economic system in which the government controls the economic system, ensuring that all people share in the profits generated by their own labor. He declared that the way forward for Venezuela was to steer towards socialism;

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