One Small Step for Socialism and Venezeula, but What About Mankind?

President Hugo Chavez continues down the path towards a complete Venezuelan socialist revolution, nationalizing Banco de Venezuela this week. This is a move to give greater control of the county's economy to the government. Banco de Venezuela is the third largest lender. It was purchased for just over one billion dollars from its Spanish owner, Banco Santander, according to the BBC.

Nationalism is one of the foundations of a full socialist government. Major institutions must be government owned, so private industries can't have too much power. This is logical under the precept that private ownership is driven by profit and therefore makes decisions that are contrary to the welfare of the people and the state. The problem is of course, should the government have the power instead? The government is not in itself a concept; it is a group of private individuals, who have their own interests, ideals, and perceptions.

Which mode is the best is the age old question in the Americas. Chavez is examining one option. He has nationalized oil companies, electricity, steel, and telecommunications. Under Chavez the poor have access to health care and education, which are two factors that will only serve to improve the quality of life. Chavez and his policies have been embraced by many, although there is of course opposition. Some question his dance with autocracy. Just this February, Chavez won a referendum allowing him to run as many times as he wants. Perhaps Chavez himself can embrace this opportunity for a life-long Presidency, but what about the leaders that come after him? Creating a successful socialist nation is one path
, but paving the way for a future tyrant to create this route is perhaps a questionable decision.

Whatever the future holds, where would Venezuela be without Chavez - and even the whole of the Americas? Where many nations have been exploited for centuries for their rich natural resources, President Chavez has drawn the lines around his nation at least, and set an example for developing nations around the world.