Venezuela has some of the world’s largest supplies of oil, with more proven oil reserves than Saudi Arabia. But about 15 years ago, the late president Hugo Chavez set out to impose a socialist revolution, making a particular point about his great munificence in providing free health care for everyone. In pursuit of this revolution, Chavez crushed every industry outside the oil sector and brought the state-owned oil company under his control. The result has been a long spiral into poverty and oppression. Now we can see the results: socialism literally kills babies.
http://thefederalist.com/2016/05/20/imagine-no-possessions-imagine-venezuela/
The experiment has been repeated, same result.
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