What are the pros and cons of Hugo Chavez's push towards bringing Venezuela into Socialism?

Question

What do you see in the future for the people of Venezuela, as well as Venzuela's neighbors?

Given that Chavez is attempting to gain the ability to enact laws by decree, do you feel he is more likely to bring Totalitarianism to Venezuela?

Answer 1

Socialism and authoritarianism mustn't me considered the same thing.
Obviously the disadvantages of socialism are economic. An economy will not function properly without a free market and will have to be propped up with oil revenues. This can't work in the long term.
It looks like he's almost certainly heading in the totalitarian direction. This is bad for his people but worse for countries around him as a dictatorship is inherently unstable and unpredictable.

Answer 2

He is also looking to eliminate term limits. He seems determined to elevate the status of the poor at the expense of the middle and upper classes. He has this view that poverty is some how noble.

Answer 3

Well, you answered your own question.

Communists try to soften the impact of their regime by CALLING it socialism, which it isn't.

Capitalists INTENTIONALLY confuse socialism with communism so that we reject socialism in favor of the capitalism that makes the rich even richer, at the rest of our expense.

Tyranny comes by many names, and will continue to flourish as long as people are so easily duped, and fail to learn from history.

How many people realize the implications of Bush's changes to our Constitution, how they have diminished our rights and protections, how they have already changed our form of government, and already re-defined our nation?

Everything will rest on how well Chavez implements his plan.