FWIW, here's what Chomsky said recently about South America generally and Venezuela specifically.
Chomsky may (or may not) be a decent scholar of linguistics but all credibility in his political analytical expertise should have been destroyed in the 1970s. This is the man that supported Pol Pot against all criticism. For years, he blamed the reported atrocities in Cambodia on the CIA. After the atrocities could no longer be denied, he attempted to minimize them.
In this piece, he says that Chavez had little success in moving the economy away from an oil based economy and in developing agriculture and industry. Reality is that Chavez nationalized the fairly productive agricultural and industrial businesses which then collapsed under the new socialist control. This pushed the Venezuelan economy to be primarily reliant on oil. Oil was always a major part of Venezuelan economy but Chavez's "reforms" made Venezuela almost completely dependent on oil.