In Venezuela, President Hugo Chavez is proposing an economic system in which the government controls the economic system, ensuring that all people share in the profits generated by their own labor. President Chavez is proposing:

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Socialism is an economic system where the government controls the means of production and distribution of goods, aiming to ensure that wealth and earnings from labor are distributed more equally among the population. Hugo Chavez's proposal aligns with this definition.

In Venezuela, President Hugo Chavez Is Proposing an Economic System