Venezuela as a Test Tube Nation and Two More Questions I have

   The world's economic test tube, I have called it. And, though I am not enough of a scholar to so much know if that is correct, I wonder.
    And, I continue to wonder what we can learn from Venezuela. Yes, it seems its economy was ruined by socialism. But, there might be other lessons to be learned.
   Like, what of the welfare state that was created? Is it still in existence? People are fleeing the country for reason of poverty. If the welfare net were still in place, it seems they would be receiving some economic relief from that welfare, and therefore not in need of fleeing.
   And, while socialism probably is responsible for the economy's decline, is capitalism responsible for its glory years? What kind of economy was in place in the 19th Century? Back then, I believe, this was a poor nation. It wasn't until oil was discovered about 1914 or so that the economy took off.
   Do we, then, credit capitalism -- or oil?