Venezuela is a patrimonial petrostate where most of the economy is privately held, but some key industries are controlled by the state. The government uses oil sales and corporate taxes to alleviate poverty and build loyalty among citizens. Think Saudi Arabia with more democracy and less Wahhabism.
Tanking oil prices caused the entire Venezuelan system to collapse, killing the welfare state and restricting the flow of foreign funds into the economy.
Wages have sunk dramatically thanks to this downturn, and state efforts to raise the minimum wage have infuriated employers. If you want to blame this on Marx, go ahead. You would just be incredibly wrong.
Opposition figures, supported by the US and our incredibly bloodthirsty oil industry, believe that privatizing natural reserves and abolishing the Chavista welfare state can save their economy. Because these problems are caused by changes in the price of oil, ceding more power to market forces won't help. Such a transformation will re-entrench the abject poverty endured by Venezuelans throughout much of their history, and might inaugurate a new era of American economic domination. This doesn't even account for the very real possibility that a new Venezuelan government abolishes democracy to protect corporate interests, just as juntas in Chile and Brazil and Colombia had done in the past.
To permanently end the problems of starvation and deprivation, there needs to be a massive redistribution of wealth from the world's richest few thousand to the world's poorest few billion. Forgive me for doubting that this is possible under capitalism.
How do you predict the elections will go? Could they help stop the violence?