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I am very annoyed at people always mixing up socialism and social democracy. The word social doesn't automatically mean it is socialism.
I live in Finland, and we are not a socialism, we are very much a capitalist country with representative democracy. Socialism doesn't really have anything that resembles democracy. Instead it has everything to do with erasing property rights and profit. In fact that's all socialism means.
The problem in Venezuela started long time ago and it is called in Spanish: "Corrupción". And of course, with Chavez and Maduro Government it got worse.